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San Ramon council approves FY25 cleanup transfers and midyear FY26 adjustments; general‑fund reserves rise to ~41.7%
Summary
Council approved staff requests to correct FY25 internal and debt service fund deficits (net general‑fund adjustment ~$6.0M) and authorized midyear FY26 budget adjustments that leave reserves near 41.67%. Finance staff said many corrections reflect reallocation of cash pool balances and process changes to prevent recurrence.
San Ramon — The City Council on Jan. 13 approved a series of budget adjustments to close negative fund balances in several internal service and debt service funds and authorized midyear budget changes for fiscal 2026.
Finance Director Jennifer Wakeman described several year‑end corrections tied to accounting and transfer timing. Among the items she identified: an investment fund (Fund 601) with a negative balance of about $153,000 that staff recommended closing into the general fund; the insurance fund (Fund 610) needed an increase in transfers in, with staff proposing a $586,000 increase in transfers out from the general fund to zero the fund balance; health care fund (Fund 611) entries required reversal of a previously enacted $1,700,000 transfer and a proposed $2,700,000 transfer from the general fund; the infrastructure maintenance fund needed about $46,000; and a pension obligation debt fund showed a deficit of about $845,000. Wakeman said the net impact to the general fund fund balance is a reduction of $6,004,489 but that unaudited anticipated general‑fund balance remains near $28.9 million.
"These are corrections to make our financial statements representative," Wakeman said, explaining that several entries are reclassifications within the city's cash pool and that the finance team will revise year‑end processes to avoid similar negative balances.
Budget Manager Yulia Elba presented the midyear FY26 adjustments, reminding council of midyear guidance to adopt no new programs or positions without trade‑offs, avoid spending not yet available, and make no unsustainable commitments. Elba said the recommended midyear adjustments keep the adopted fund balance intact and increase the general‑fund reserves to approximately 41.67% (well above the city’s 36% target).
Council members commended the finance staff for the cleanup work. After questions about methodology and cash‑pool reallocations, council approved Resolution 2026‑009 (FY25 amendments) and Resolution 2026‑010 (FY26 midyear adjustments).
What happens next: staff will present the formal audit and final numbers at the upcoming audit presentation; the council directed staff to continue updating procedures to prevent similar end‑of‑year negative balances.
