Title
FY 2026 Mid-Year Financial Report as of December 31, 2025, and Proposed Adjustments to the FY 2026 Adopted Budget
Staffreport
CITY COUNCIL PRIORITY
* Fiscal Sustainability and Transparency
SUMMARY
The FY 2026 Mid-Year Financial Report provides an overview of the City's budgetary position through December 31, 2025. This report is informational.
This report presents the mid-year review of the proposed adjustments to the FY 2026 Adopted Budget to the Finance Committee for consideration and recommendation to the full City Council for consideration and adoption.
RECOMMENDATION
Staff recommend that the Finance Committee review the FY 2026 Mid-Year Financial Report as of December 31, 2025.
Additionally, staff recommend that the Finance Committee review and forward the proposed FY 2026 Adjusted Budget, including revenue and expenditure appropriations, to the City Council for consideration and approval.
BACKGROUND
The financial review provides the mid-year budget update to the Finance Committee for the current fiscal year. Analysis of the revenues collected and all expenditures through December 31, 2025, measuring operational adherence to the budget allocation plan.
During the mid-year process of the current 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 2026-2027 Biennial Budget on June 16, 2025. The approved budgets present the annual expenditure and resource allocation plan that guides 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 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 Ser...
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