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Council adopts FY 2025‑26 operating budget, CIP appropriations and reserve framework
Summary
Torrance City Council adopted the city’s FY 2025‑26 operating and capital appropriation resolutions and endorsed staff recommendations for end‑of‑year reserves, including a staff recommendation to deposit $56 million to reach a 22% reserve ratio.
The Torrance City Council on the evening of the meeting took final action on the city’s fiscal plan for the coming year, adopting appropriation resolutions to set the FY 2025‑26 operating budget and capital improvement program and agreeing to the staff framework for handling a projected operating surplus.
Ian Daley, the city’s finance director, summarized the budget process and recommended a priority framework for the…
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