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Oxnard staff recommends midyear budget amendments, $4 million liability transfer and CIP addition
Summary
Assistant CFO Thomas Liu told the council that staff recommends midyear amendments across multiple funds for FY 2025—6 to 2026, including a proposed transfer to the liability fund of $4,000,000, increased pension/OPEB contributions, and adding an Environmental Resources roll-up door replacement to the CIP.
Assistant Chief Financial Officer Thomas Liu presented the City of Oxnards FY 2025—6 to 2026 midyear budget review on Feb. 17, outlining staffs recommendation that the City Council receive an update on revenue and expenditure projections and approve a set of midyear amendments across multiple funds.
Liu said revenues overall remain "stable with an updated forecast showing a modest increase in sales tax, which helps offset declines in franchise fees and transient occupancy tax." He attributed most near-term expenditure pressure to personnel costs in police and fire departments and to a concentration of liability-case settlements this year. "Available fund…
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