Belvedere’s $14.2M draft budget prioritizes Beach Road seawall

Belvedere is expected to spend $2.66 million in the upcoming fiscal year to stabilize the Beach Road seawall and levee while also allocating more toward legal expenses amid ongoing lawsuits challenging the city’s construction-time-limit fines.

Driven by the Beach Road project, the draft budget for fiscal year 2025-2026, which begins July 1, anticipates $14.22 million in expenditures against $11.38 million in revenue, leaving a deficit of $2.84 million that will be covered by withdrawals from the city’s general and critical-infrastructure funds.

Despite the deficit, Administrative Services Director Helga Cotter said the city will still meet its general-fund reserve goal of at least 50% of expected expenditures plus the cost of fire and pension-debt services for fiscal 2026 and the four subsequent fiscal years. Belvedere is expected to finish fiscal 2026 in June with a 51% reserve, or $4.62 million where $4.58 million is required.

The draft budget was presented at the City Council’s May 12 meeting, with a council vote to formally adopt the budget expected June 9.

Operating expenditures of $10.1 million are up 11.3% from the current year, with nearly three-quarters related to personnel and the city’s $2.49-million fire-protection contract with the Tiburon Fire Protection District. Operating revenues of $10.81 million will create a $712,193 surplus for fiscal 2026 when excluding capital projects.

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