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Budget & Financial Plans
Purpose of the Budget
- To set goals objectives, and service levels for the City to meet during the next year (thus ensuring the provision of City services to Milpitas residents).
- To estimate and allocate the money the City will take in and spend during the year.
Adopted FY 2025-26 Budgets
Below are the current and most recent Budget and Financial Plan documents available for review and download.
Previous Years' Budgets
View previous budget documents in the Archive Center.
Fiscal Year 2025-2026 Annual Budget Development
On February 18, 2025 the City Council kicked off the annual budget process with the Preliminary Fiscal Year 2025 to 2026 Budget Study Session. Staff conducted a robust community outreach program including a multilingual statistically valid poll, a Budget Survey for community input regarding the Council Priority Areas, and virtual community budget meetings. The Fiscal Year 2025–26 Adopted Budget was presented to the City Council and officially adopted on June 3, 2025.
Citywide Satisfaction Survey
In December 2024, the City contracted with Fairbank, Maslin, Maullin, Metz & Associates (FM3) to conduct a Citywide survey on levels of satisfaction regarding City services, of which the results were presented to Council on January 21, 2025. FM3 is a California-based company that has been conducting public policy-oriented opinion research since 1981 and has worked with hundreds of local government agencies in research and strategic services. To conduct a community satisfaction survey with a representative sample of adult residents, FM3 conducted a dual-mode (online and telephone) survey using an address-based sampling approach and US Census-derived demographic quotas. The survey was conducted from December 12 to 30, 2024, and was available in English, Chinese, Spanish, and Vietnamese. Residential addresses were selected at random across the City and matched to public and commercial contact information. Postcards, emails, and text messages were sent in an initial wave of contacts inviting residents to take the survey online. Subsequent telephone interviews were conducted to help balance the sample to reflect the overall adult population and demographic quotas. With 647 completed interviews, the margin of sampling error for the findings is ±4.0% at the 95% confidence level. Because of the strong response from the community, FM3 was able to provide statistically sound and fully representative results from residents, clearly demonstrating that the community is eager to provide their feedback to the City Council and City administration, and have a very strong favorable sentiment towards Milpitas and the services offered.
Budget Transparency
The 12-page FY2025-26 Budget-in-Brief document (PDF) highlights major investments being made in the City of Milpitas for this fiscal year and provides facts about the City. It presents the major sources of funding and the services provided by the City, including the infrastructure it constructs and maintains. For questions and comments regarding the City’s budget, please email the Budget Division.
Appropriations Limit
Article XIIIB of the California State Constitution, more commonly referred to as the Gann Initiative or Gann Appropriations Limit, was approved by California voters in November 1979 and placed limits on the amount of proceeds of taxes that state and local governmental agencies can receive and spend each year. If an agency receives more revenue than the Appropriations Limit, the excess revenue must be returned to the taxpayers through a tax reduction or refund within the next two years. Alternatively, the agency can increase its Appropriations Limit through voters’ approval.