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Finance subcommittee recommends draft FY 2026–27 budget to full board
Summary
The Los Olivos Community Services District Finance Subcommittee reviewed a draft FY 2026–27 budget showing a projected shortfall of about $156,000 if no outside funding is secured and voted to recommend the draft to the full board and set a hearing date.
The Finance Subcommittee of the Los Olivos Community Services District voted to recommend the draft fiscal year 2026–27 budget to the full board for review and for staff to set a public hearing date.
The General Manager presented the draft budget, noting the district’s fiscal year runs July 1–June 30 and the proposal uses a 2.5% inflation assumption. He said the draft assumes currently received special-tax receipts scaled to a full year and lists estimated insurance at about $5,900. “This proposed budget shows we did in the year with about a $156,000,” the General Manager said, summarizing the projected year-end shortfall if no additional funds are secured. The manager recommended the board schedule a public hearing (proposed for April 10) and finalize allocations after public review.
Members asked for clearer, public-friendly reports to accompany the budget, including a balance sheet and an income statement-style presentation so residents can more easily see cash on hand, revenues and expenditures. The subcommittee directed staff to prepare those formats and moved to forward the draft to the full board rather than adopt it at the subcommittee level.
The subcommittee’s recommendation to send the draft to the full board was approved by voice vote; the full board will receive the draft for review and the hearing will be scheduled under a separate agenda as required by law.
