DATE: September 16, 2026
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Receive a Presentation about the Monthly Budget to Actuals For the Period Ending June 30, 2026, Based on Transactions Posted Through August 31, 2026
RECOMMENDATION
That the Council Budget and Finance Committee (CBFC) receives a presentation and provides comments regarding the monthly budget versus actuals for the General Fund for the period ending June 30, 2026, including transactions posted through August 31, 2026.
SUMMARY
The City has taken a number of measures to balance the Fiscal Year (FY) 2025-26 and 2026-27 General Fund Operating Budgets. At the September CBFC meeting, staff will provide a budget versus actual report of revenue and expenses for the General Fund for Fiscal Year 2025-26 period ending June 30, 2026, including transactions posted through August 31, 2026.
The June 2026 Real Property Transfer Tax was significantly higher than forecasted. Primarily as a result of this item, the anticipated deficit between revenues and expenses is projected to be less than $400,000 (this is $2.5 million less than projected at the August CBFC meeting).
Before FY 2026-27 is fully closed, there may be additional revenue accruals or other adjustments. Staff will continue to provide updates for FY 2026-27 until at least the period ending October 31, 2026. At that time, staff will review all transfers for opportunities to reduce the gap between revenue and expense to zero or reduce transfers from internal service funds.
ATTACHMENTS
Attachment I Monthly Budget to Actuals Presentation