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Agoura Hills council adopts balanced FY 2026–27 budget with modest surplus
Summary
The Agoura Hills City Council adopted a balanced FY 2026–27 budget on June 24, 2026, approving staff’s recommendation after a months-long review; finance staff reported reserves of about $13 million and an available surplus noted in the presentation.
The Agoura Hills City Council on June 24 adopted an annual budget for fiscal year 2026–27 that staff described as balanced, moving the city into the new fiscal year beginning July 1, 2026.
Finance Director Diego Ibanz told the council the general fund budget is balanced, revenue estimates are tracking to forecast and staff expects final audited numbers in October. He said reserves stand at roughly $13 million and the presentation listed an available surplus figure shown in staff materials.
Council members praised staff after a nine-month budget process. “I am really, really glad to see that we have a balanced budget,” Council Member Anderson said, thanking finance staff for their work. Council Member Sylvester emphasized fiscal conservatism and regular updates to the finance subcommittee.
Ibanz outlined next steps: staff will input the approved budget into the city’s enterprise resource planning system for use on July 1, auditors will complete the interim review and return in September, and final audited results will be made available later in the year with a follow-up presentation to the finance subcommittee and council.
The council voted 3–0 to approve the budget after deliberations. The approved budget packet includes the council-approved community grants increase discussed on June 10 and project budgets outside the general fund with identified funding sources.
City staff signaled continued monitoring of revenues and expenditures and said they will work on a five-year fiscal plan and more regular reporting to the subcommittee as economic uncertainty persists. The council’s next regular meeting is scheduled for July 8, 2026.
