DATE: November 18, 2026
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Presentation on Fiscal Year 2025-26 Actuals Based on Transactions Posted through October 31, 2026
RECOMMENDATION
That the Council Budget and Finance Committee (CBFC) receives a presentation and provides comments regarding a Fiscal Year 2025-26 actuals based on transactions posted through October 31, 2026 (Unaudited Budget Year-End Report).
SUMMARY
At the November 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 October 31, 2026.
At the October CBFC meeting, staff presented budget-to-actuals for FY 2025-26 for transactions posted through September 30, 2026. Since that time, staff has made additional accruals and adjustments. These accruals increased revenues by nearly $222,124. In addition, staff made adjustments to the allocation of CalPERS Unfunded Accrued Liability (UAL) resulting in a reduction of $482,078. Finally, after further review of carry forwards, staff recommends increasing the amount to carry forward from Fiscal Year 2025-26 to Fiscal Year 2026-27 from $426,194 to $828,810.
These changes result in a net positive. Therefore, the proposed transfer from Information Technology Internal Service Fund can be reduced from a proposed $3,004,133 to $2,331,746 by $475,000 to achieve a balanced budget. (The total transfer from the Information Technology Fund for Fiscal Year 2025-26 will be approximately $3 million as transfers must be made to all funds that contributed to this fund, not just the General Fund.)
Staff recommends a presentation of these unaudited numbers to the City Council as an Unaudited Budget Year End Report for Fiscal Year 2025-26 that will include a summary of revenue and expenses including transfers in and out of the General Fund. While additional changes are not anticipated, changes may result through the annual audit process.
ATTACHMENTS
Attachment I Monthly Budget to Actuals for Fiscal Year 2025-26 Presentation