HomeMy WebLinkAbout2026-05-19 Finance Committee Action MinutesFINANCE COMMITTEE
ACTION MINUTES
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Special Meeting
May 19, 2026
The Finance Committee of the City of Palo Alto met on this date in the Community Meeting
Room and by virtual teleconference at 1:00 PM.
Present In-Person: Lauing (Chair), Burt, Lu
Absent:
Call to Order
Public Comment
Agenda Items
2. Accept the Bi-Annual Actuarial Valuation Report of Palo Alto's Retiree Healthcare and Other
Post-Employment Benefits (OPEB) as of June 30, 2025 and Recommend that the City Council
Approve Annual Actuarially Determined Contribution for Fiscal Years 2027 and 2028; CEQA
Status – Not a Project
ITEMS HEARD OUT OF ORDER
MOTION: Councilmember Lu moved, seconded by Councilmember Burt, to recommend the City
Council:
1. Review and accept the June 30, 2025 actuarial valuation of Palo Alto’s Retiree
Healthcare Plan (Attachment B); and
2. Fund the annual Actuarially Determine Contribution (ADC) for Fiscal Year 2027 and 2028
MOTION PASSED: 3-0
1. FY 2027 Budget Discussion Wrap-up and Recommend City Council Adopt FY 2027 Budget
Including FY 2027 Municipal Fee Schedule
ACTION MINUTES
Page 2 of 3
Sp. Finance Committee Meeting
Action Minutes: 05/19/2026
ITEMS HEARD OUT OF ORDER
MOTION: Councilmember Lauing moved, seconded by Councilmember Burt, to recommend the
City Council
1. Adopt the FY 2027 Operating and Capital Budgets and Municipal Fee schedule, amended
by the Table of Finance Committee Adjustments to the Budget in Slide 7 (copied below),
including the staff technical adjustments to date
2. Approve the FY 2027-2031 Capital Improvement Plan
3. Subtract 0.5 FTE and add 1.0 FTE Assistant Engineer to be partially funded with Measure
B Local Streets and Roads funds. Funding in FY 27 will be $40,000 and the funding mix in
future years to be determined.
4. Adjust Canopy contract with a target reduction of $15,000 instead of $43,550 and direct
staff to communicate with Canopy regarding contract scope reductions
5. Authorize staff to bring forward recommendations relating to lateral hiring bonuses in
the Police Department for City Council consideration
6. Transfer $250,000 from the Mitchell Park Library (PE-24006) to Roth Building
Rehabilitation (PF-23001) in case needed
ACTION MINUTES
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Sp. Finance Committee Meeting
Action Minutes: 05/19/2026
7. Re-balance the General Fund additional appropriations above through reductions in
transfers to CIP
MOTION PASSED: 3-0
MOTION SPLIT FOR PURPOSES OF VOTING
MOTION: Councilmember Lu moved, seconded by Councilmember Lauing, to recommend the
City Council
1. Fund the approved City Council Administrative Assistant pilot program with FY 2026
funds through December 2026 and evaluate the pilot at that time
MOTION PASSED: 2-1, Burt no
Future Meetings and Agendas
Adjournment: The meeting was adjourned at 4:42P.M.