Title
Adopt a Resolution to Approve the Proposed Adjustments for the FY 2026 Adopted Budget and the FY 2026 Mid-Year Financial Report as of December 31, 2025.
Staffreport
COUNCIL PRIORITY
* Fiscal Sustainability and Transparency
SUMMARY
The FY 2026 Amended Budget is presented with proposed adjustments for City Council consideration and authorization. The FY 2026 Mid-Year Financial Report is for information only.
RECOMMENDATIONS
Staff recommend the City Council adopt a resolution to approve the FY 2026 Mid-Year Financial Report as of December 31, 2025, and the proposed Adjusted FY 2026 Budget, including revenue and expenditure appropriations.
BACKGROUND
The financial review provides the mid-year budget update to City Council for the current fiscal year. Analyses of the revenues collected and all expenditures through December 31, 2025, measure operational adherence to the budget allocation plan.
During the mid-year process of the fiscal year, Staff may propose adjustments to ensure budget alignment with revenue and expenditure projections for the current fiscal year. The City Council adopted the FY 2026-27 Biennial Budget on June 16, 2025. The approved budgets present the annual expenditure and resource allocation plan that guide the implementation of City Council budget policies and priorities. The budget provides funding direction for a broad range of services that meet the needs of the community in accordance with City Council policies.
Analysis and Discussion
FY 2026 Mid-Year Financial Report
Attachment A, Exhibit B is the FY 2026 Mid-Year Financial Report as of December 31, 2025, and provides a revenue and expenditure summary for the General, Enterprise, Internal Service, and Parking Fund. The report provides detailed revenue and expenditure comparisons to the prior year while also focusing on variances in financial plans and budgeted allocations.
FY 2026 mid-year revenue through December 31, 2025, totals $56.2M, 37% of the budget of $150....
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