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Encinitas projects stronger mid-year finances; council receives mid-year budget adjustments
Summary
Finance staff reported higher-than-expected revenues and recommended mid-year amendments that increase estimated revenues by $4.7 million and strengthen the general fund position by about $2.7 million; council received the report and approved the adjustments.
Finance Manager Sanders presented the fiscal year 2025–26 mid-year budget status report and proposed amendments. After six months of activity, staff reported that general fund revenues are tracking above estimates and that proposed adjustments across funds include a $4.7 million increase in estimated revenues and a net reduction in capital appropriations of about $2.8 million.
Significant items included $1.8 million in one-time easement proceeds from Lenar Homes and a net reduction in sanitary division capital projects to better align with reserves. Staff estimated the net effect on the unassigned general fund balance to be a favorable $2.7 million. The presentation noted timing effects on revenue recognition and standard mid-year adjustments for personnel and encumbrances.
Council members praised the clarity of reporting and fiscal restraint and voted unanimously to receive and file the mid-year report and associated resolutions. Staff noted the changes will be used to update long-term forecasts and prepare next year’s budget workshops.
