HomeMy WebLinkAboutCC 03-03-2026 Item No. 10 City Manager's Mid-Year Financial Report_Staff Presentation_REVISEDCC 3-3-2026
#10
City Manager's Mid-Year
Financial Report - REVISED
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 Balance
(use of)
ExpenseRevenueFund
($645,138)
$634,677
$663,616
$653,155
$18,478General
$131,100-$131,100Internal
Service
($514,038)
($503,577)
$663,616
$653,155
$149,578Total All
Funds
Budget Requests by Fund
Recommended Budget Adjustments
Fund Department Revenue Expenditure
Change in Fund
Balance Proposal
GENERAL FUND
100 General Fund Administration - City
Attorney's Office
- 410,000 (410,000) City Attorney's Office Contract
Services
Administration - City
Attorney's Office
- 10,461 (10,461)Senior Assistant City Attorney
salary alignment - remainder of FY
2026
100 General Fund Admin Services - 75,000 (75,000) Finance consulting, additional
auditing and tax services pun group
100 General Fund Innovation & Technology - 15,000 (15,000) ADA Closed Captioning
100 General Fund Parks & Recreation 18,478 15,944 2,534 Hidden Treasures Proceeds
100 General Fund Public Works - 6,111 (6,111) Emergency HVAC Compressor
Replacement
100 General Fund Non-Departmental - 131,100 (131,100) IT PEG Transfer Out
TOTAL GENERAL FUND 18,478 663,616 (645,138)
653,155 (634,677)
INTERNAL SERVICE
FUNDS
610 Innovation & Technology Innovation & Technology 131,100 - 131,100 IT PEG Transfer In
TOTAL INTERNAL
SERVICE FUND 131,100 - 131,100
TOTAL ALL FUNDS $ 149,578 663,616 (514,038)
$ 653,155 $ (503,577)
•Senior Assistant City Attorney Salary
Alignment (Staff Recommends this request to be
deferred to a future date)
•Development Services Division Salary Savings for
3rd Party Inspection Services
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
1.Accept the City Manager’s Mid-Year Financial
Report for Fiscal Year 2025-26; and
2.Adopt Resolution No. 26-XXX approving Budget
Modification No. 2526-433, increasing
appropriations by $663,616 653,155 and revenues
by $149,578 resulting in use of $514,038 503,577 in
one-time unassigned fund balance
Recommendations
Questions?