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
Julie Bondarchuk, Financial Controller
Alexis Motonaga, Budget & Financial Analyst
SUBJECT:Title
Fiscal Year 2025-2026 Preliminary Year-End Financial Results and Year-End Budget Appropriations (Partially Budgeted) (Finance Director Bretthauer).
RECEIVE REPORT
APPROPRIATE FUNDS
(Estimated Time: 30 mins.)
Body
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RECOMMENDATION:
Staff recommends that the City Council receive this report and appropriate $2,175,000 from the Insurance Reserve Fund and $43,000 from the County Parking Lots Fund in fiscal year (FY) 2025-2026.
FISCAL IMPLICATIONS:
Fiscal implications are discussed throughout this report.
BACKGROUND:
The City Council adopted the fiscal year (FY) 2025-2026 Budget on June 3, 2025. A first-quarter budget update was presented on November 18, 2025, and a mid-year budget update was presented on February 17, 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 preliminary year-end financial performance and an explanation of the need for year-end budget appropriations in the Insurance Reserve Fund and County Parking Lots Fund.
DISCUSSION:
The City of Manhattan Beach Finance Department is committed to accuracy, compliance, and transparency in financial reporting. Recurring monthly financial reports are intended to provide timely fiscal information and improve general awareness of the City’s overall fiscal health. Each year, after the year-end audit concludes, staff and the City’s external audit firm begin preparing financial statements and the Annual Comprehensive Financial Report (ACFR).
Fieldwork for the FY 2025-2026 audit will be completed in October, and the ACFR will be presented and discussed with the Finance Subcommittee in Dece...
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