San Jose officials approved a $5.5 billion budget for fiscal year 2025-26, moving forward several initiatives from Mayor Matt Mahan, including reallocating funds for homelessness. The city faces a substantial fiscal deficit, projected to reach $52.9 million by 2027. Despite restoring some funding for vulnerable populations, council members declined to tie salary increases to performance goals for city leaders. The council also proposed investments to support immigrant organizations and essential social services while preparing for significant future events like the Super Bowl and World Cup.
San Jose's council approved a budget emphasizing short-term solutions for homelessness, despite a looming fiscal shortfall and rejecting performance-based pay for city leaders.
Mayor Mahan declared the budget as 'fiscally-responsible, service-sustaining and forward-looking,' while emphasizing critical investments with the upcoming Super Bowl and World Cup.
Despite restoring $9 million in cuts to vulnerable residents, the city continues to face a significant budget shortfall expected to rise in the upcoming years.
The council's vote to reallocate $39.2 million from Measure E toward temporary shelters highlights an immediate response to homelessness amidst longer-term commitments.
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