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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 current fiscal year. Daley said the budget process began in November 2024, included multiple department reviews, and that staff recommends that any operating surplus be used first to maintain IT and fleet replacement funds, then to improve the self‑insurance fund balance, and finally to flow any remaining amount to unassigned general fund balance. Daley told the council staff is seeking approval “to make the recommended deposit to the city's reserve in the amount of $56,000,000 as of 06/30/2025 so that the reserve ratio is set at 22% of the city's proposed general fund operating fund budget for 25‑26.”
Council members heard no public speakers at the hearing who raised issues that required changes. After discussion, the council adopted Resolution 2025‑33 (operating appropriations), Resolution 2025‑34 (capital appropriations) and Resolution 2025‑35 (appropriation limit/adjustment factors) as presented by staff. The motions carried with Council Member Sheikh absent.
Finance staff said they promoted the hearings and posted the budget documents online; staff reported nearly 67,000 views and 104 downloads of the proposed budget materials across outreach platforms. The adopted plan includes the appropriation resolutions and the reserve‑management framework described by staff.
