DATE: October 21, 2026
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Receive a Presentation on Budget to Actuals for Fiscal Year 2025-26 for Transactions Posted through September 30, 2026
RECOMMENDATION
That the Council Budget and Finance Committee (CBFC) receives a presentation and provides comments regarding Fiscal Year 2025-26 actuals based on transactions posted through September 30, 2026.
SUMMARY
At the September CBFC meeting, staff will provide a report on actual revenues and expenses for the General Fund for Fiscal Year 2025-26, including transactions posted through September 30, 2026.
At the September 18, 2026 CBFC meeting, staff presented budget-to-actuals for FY 2025-26 reflecting an anticipate deficit of less than $400,000, which would be resolved by increasing the anticipated transfer from the Information Technology Internal Service Fund. Since that time, staff has made additional accruals and adjustments. These accruals increased revenues by nearly $1.5 million. In addition, staff made adjustments that reduces salary costs by approximately $500,000, but increased CalPERS Unfunded Accrued Liability (UAL) by $1 million by reallocating the general fund share compared to the presentation in September. These items, combined with a small increase in supplies and services costs, means that there were sufficient revenues and transfers in during FY 2025-26 to cover expenses.
Before FY 2026-27 is fully closed, there may be additional revenue accruals or other adjustments. At the November CBFC meeting, staff anticipates presenting a Budget Year End Report for Fiscal Year 2025-26 that will include an unaudited summary of revenue and expenses including transfers in and out of the General Fund. Transfers will be adjusted to end with (Revenues + Transfers-In) minus (Expense + Transfers-Out) equal zero.
ATTACHMENTS
Attachment I Monthly Budget to Actuals for Fiscal Year 2025-26 Presentation