TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
Emy-Rose Hanna, Financial Services Manager
Alexis Motonaga, Budget & Financial Analyst
SUBJECT:Title
Fiscal Year 2026-2027 First Quarter Budget Update and Consideration of Grant-Related Budget Appropriations (Partially Budgeted) (Finance Director Bretthauer).
(Estimated Time: 30 Min.)
RECEIVE REPORT
APPROPRIATE FUNDS
Body
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RECOMMENDATION:
Staff recommends that the City Council receive the Quarter 1 Budget Report, and approve a budget adjustment appropriating $95,643 in the Grants Fund and $10,627 in the Proposition A Fund for preventive maintenance on two Dial-A-Ride buses.
FISCAL IMPLICATIONS:
Fiscal implications are discussed in further detail within this report.
If approved, the proposed budget adjustment appropriates expenditures and adjusts revenues by $95,643 in the Grants Fund and a 10% local match of $10,627 in the Proposition A Fund, for a total of $106,270, for preventive maintenance on two grant-funded Dial-A-Ride buses. There is no financial impact to the General Fund.
BACKGROUND:
The City Council adopted the fiscal year (FY) 2027 Budget on June 2, 2026. In an effort to keep the City Council and community fully informed of the City's fiscal performance, staff is providing a presentation of financial information to the City Council ahead of the traditional mid-year report that will be presented in February 2027.
A preliminary year-end update for last fiscal year (FY 2026) was presented to the City Council on October 6, 2026. With all year-end transactions now complete, the estimated ending General Fund balance totaled $44.3 million as of June 30, 2026. Within this amount, the Financial Policy designation of 20% of General Fund expenditures totaled $21.1 million, the Economic Uncertainty Reserve totaled $4.0 million, Restricted Fund Balance was $1.5 ...
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