"Kristina Alfaro was introduced as the town's new administrative services director and presented several revenue tax measures to the council. Currently, the town is financially stable due to growth driven by one-time revenues, like money saved from high interest income and savings from vacancies. The FY25-26 budget was balanced by using $1.1 million from reserves to cover a deficit. However, increasing expenses from personnel costs and declining interest income revenues may lead to another shortfall."
"Alfaro warned that the town had several needs that were unfunded, ranging from $285.7 million to $307.2 million. Pavement and infrastructure projects require the most investment at $172.7 million. Building a new police operations building and emergency operations center would require $50 million to $66 million. Other unfunded needs include capital projects, building maintenance and repairs to town facilities and parks, soccer field turf rehabilitation, constructing critical infrastructure and implementing a comprehensive wildfire program."
Los Gatos town council voted unanimously to allow staff to seek state legislative authority to raise the local sales tax above the statewide 2% cap and allocated $80,000 from the general fund to hire consultants to study revenue options. Kristina Alfaro was introduced as the new administrative services director and presented five revenue options, including a local sales tax increase. The town currently relies on one-time revenues and used $1.1 million from reserves to balance the FY25-26 budget. Rising personnel costs and falling interest income threaten future deficits. Unfunded needs total $285.7–$307.2 million, with pavement and infrastructure the largest category.
Read at The Mercury News
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