Council adopts midyear FY 2025–26 budget amendments; general fund now projected to surplus
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Summary
Finance Director Minnie Moreno reported projected FY25–26 changes that increase general fund revenues by $1.33M, reduce expenditures by about $276,849 and yield a projected $804,000 operating surplus; the council adopted a resolution to amend the budget.
Finance Director Minnie Moreno presented the midyear review for fiscal year 2025–26 and recommended amendments to revenue and expenditures across funds.
Moreno said updated revenue forecasts show a $1,330,000 increase driven by property tax ($640,000), sales tax ($345,000) and property tax in lieu of VLF ($188,000). Expenditure adjustments and insurance updates reduced projected spending by $276,849, producing an estimated $804,000 general fund surplus for the year. The presentation summarized impacts across special revenue and enterprise funds, including Measure H, Measure P, park development fees and water fund adjustments tied to Chromium‑6 compliance and meter projects. Solid waste appropriations showed a significant adjustment (a $6.6 million reduction tied to project phasing).
Staff said removed projects are not canceled but reprioritized to realistic delivery schedules; the council moved and approved the resolution amending the FY25–26 budget.
