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Council approves quarterly investment and unaudited financial reports, hears preliminary FY2026–27 budget
Summary
Finance staff reported quarter-end investment balances and presented budget-to-actual and unaudited financials; the council approved the reports and received a preliminary FY2026–27 budget presentation and set a public hearing for Sept. 8, 2026.
Finance staff presented the quarterly investments report for the quarter ending June 30, 2026, reporting total withdrawals of $5,992,233.72 and an ending balance of $20,799,067.63, with interest earned of $302,987. The council moved, seconded and approved the investments report.
Staff then presented budget-to-actual figures and the unaudited financial statements for June 2026, noting general fund revenues collected at roughly 76.38% of budget and expenditures below benchmark. Council approved the unaudited statements. Finance and city staff later presented the preliminary FY2026–27 budget, citing total general fund resources and tax valuation updates (staff reported a 2026 total taxable valuation of about $6,420,000,000 and projected general fund revenues of roughly $64,246,587). Council set a public hearing on the FY2026–27 budget for Sept. 8, 2026.
