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Board approves year‑end budget adjustments, authorizes contingency for VCMC loan headroom
Summary
Supervisors unanimously approved multiple year‑end adjustments and loans, including additional transfers for energy programs, mountain fire cleanup overages and a $300 million headroom authorization for the ongoing Ventura County Medical Center (VCMC) general fund loan.
The Board of Supervisors unanimously approved a package of year‑end budget adjustments and loan carryovers on June 24, including funding and appropriation changes for energy programs, wildfire cleanup, courthouse funds and a contingency for the county’s ongoing loan to Ventura County Medical Center (VCMC).
Assistant Chief Financial Officer Mark Soel summarized 15 year‑end items requiring board action. Highlights included: a $4.5 million appropriation and revenue authorization for the Tri‑County Regional Energy Network contract; $2.5 million in additional budget authority for Mountain Fire cleanup costs pending state reimbursement; and a recommended $5 million transfer to internal service funds for retiree health obligations following the Alameda decision. Several smaller adjustments and grant administrative items were also approved.
Soel told the board the county is requesting headroom authority for the VCMC general fund loan up to $300 million — an increase from last year’s $235 million — to cover final year‑end obligations while federal and state reimbursements are processed. County staff said federal reimbursement for VCMC is expected (about $256 million outstanding) along with a $17 million state receivable, but timing can be protracted. Soel said current estimates put the likely needed amount at roughly $280 million but the $300 million figure gives a small additional buffer.
Other items included a recommendation to stop charging a longstanding fine surcharge for non‑parking criminal fees that is no longer required, and receipt and filing of a list of grants entered administratively during the year.
Board members thanked staff for the annual update and voted to approve the adjustments. Supervisors emphasized monitoring the VCMC loan and continued outreach for federal/state reimbursements.
Ending note: The board’s actions were reflected in FY 2025‑26 budget documents; staff will report on reimbursements and loan draw patterns at future oversight meetings.
