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Home My WebLink AboutCC 03-03-2026 Item No. 10 City Manager's Mid-Year Financial Report_Staff PresentationCC 3-3-2026 #10 City Manager's Mid-Year Financial Report Presentation March 3, 2026 Fiscal Year 2025 -26 Mid -Year Financial Report 10 Year Forecast Update FY 2025-26 Mid-Year Update Recommended Mid-Year Budget Adjustments Other Budget Items Recommendations Agenda 3 4 Recession scenario Sunset of Utility User Tax in November 2030, resulting in a loss of revenue of over $4M annually Resumption of $2M transfers to Capital Reserve Sheriff’s Contract Scenario FY 2025-26 Mid-Year Update FY 2025-26 Amended Budget – By Fund ($ in Millions) General Fund Revenues – Year over Year General Fund Expenditures – Year over Year General Fund - Fund Balance (in millions) Note: Q2 Year-End Projections assume budgeted revenues and expenditures are fully collected and incurred. Fund balances do not consider City Council actions after December 31, 2025. Proposed Mid Year Budget Adjustments Fund Revenue Expense Fund Balance (use of) General $18,478 $663,616 ($645,138) Internal Service $131,100 -$131,100 Total All Funds $149,578 $663,616 ($514,038) Budget Requests by Fund Recommended Budget Adjustments •Senior Assistant City Attorney Salary Alignment •One-time cost of $10,461 •Ongoing costs of approximately $35,000 Staffing •As of December 31, 2025, the City Manager’s Discretionary Fund has only been used for Property Appraisal Services for 10480 Finch Avenue at a cost of $7,400 •Staff will continue to report on the use of this fund City Manager Discretionary Fund •Sheriff’s Contract Increase •Reorganization of Insurance Administration from Human Resources to City Attorney’s Office •Reorganization of Human Resource Division from Administrative Services to City Manager’s Office •Development Services Division Salary Savings for 3rd Party Inspection Services Other Budget Items 1.Accept the City Manager’s Mid-Year Financial Report for Fiscal Year 2025-26; and 2.Adopt Resolution No. 25-XXX approving Budget Modification No. 2526-433, increasing appropriations by $663,616 and revenues by $149,578 resulting in use of $514,038 in one-time unassigned fund balance Recommendations Questions?