Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Council adopts midyear budget amendments after staff outlines revenue shifts and cost increases
Summary
City staff said development‑related revenues will be deferred ($3.9M) while some fees and franchise revenues rise; council approved midyear appropriations that lower the estimated FY ending fund balance by about $4 million. The resolution passed by roll call.
City staff presented midyear amendments to the fiscal year 2025–26 budget and the Moorpark City Council approved the resolution at its Feb. 18 meeting.
Budget and Finance Manager Phuong Salang told council that revenue adjustments include higher property and sales tax estimates (about $200,000 each), a corrected solid waste franchise fee calculation (+$262,000) and a $900,000 increase in building and safety fees tied to current development activity. Those gains are offset by a $3.9 million reduction in development impact fees, which staff said reflects the timing of projects rather than lost revenues.
On the expenditure side, staff requested roughly $1.4 million in additional appropriations for property maintenance, contractual services, building and safety costs and higher legal expenses. Salang summarized the net effect: the previously projected ending fund balance of about $70.4 million would be revised to approximately $66.4 million after adjustments. “The $3,900,000 in deferred development related revenues is not lost, but simply moved to the future year,” he said.
Council members questioned the timing of development fees and when permits would trigger collection; staff replied that most collections occur at building permit issuance and that the deferred revenues are expected within one to two years. Councilmember questions also explored the effects of higher construction costs and legal expenses on capital project planning.
The mayor moved the staff recommendation; the council approved the resolution by roll call (all ayes). Staff will incorporate the midyear amendments into the city’s financial records and present updated projections during the annual budget process.
