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Oxnard staff present $659 million proposed FY2025-26 budget; wastewater projects drive borrowing
Summary
City of Oxnard Chief Financial Officer Javier Charo de Lacaro presented a proposed FY2025-26 budget that forecasts $593 million in revenues, $659 million in expenditures and a $166 million year-end fund balance; major borrowing through State Revolving Fund loans will finance wastewater improvements.
Javier Charo de Lacaro, chief financial officer for the City of Oxnard, presented the proposed fiscal year 2025-26 budget at a public hearing and recommended the City Council conduct the hearing and provide staff direction before final budget adoption on June 17, 2025.
The proposed consolidated budget forecasts $593,000,000 in total revenues and $659,000,000 in total expenditures for FY2025-26, resulting in a projected overall fund balance of $166,000,000 at year end. Charo de Lacaro said portions of the difference between revenues and expenditures will be funded from available fund balances and one-time items from the prior year.
The proposed general fund budget is balanced with revenues and proposed expenditures both at $243,600,000. Major revenue drivers identified by Charo de Lacaro are property tax (up $3,100,000 or 4.3%) and sales and use taxes — including Measure A,…
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