Accept year-end financial report showing $3.1 million budget deficit

Quarterly Budget ReportBudgetCity Manager's Office/Finance Department

In Plain English

The city spent $3.1 million more than it earned in the fiscal year that ended June 30. The city maintains $62.2 million in reserves, which is above the required 21% minimum. If approved, the council also authorizes $7.1 million in routine budget adjustments to match actual spending.

Auto-generated summary. Source: official agenda documents.

Votes

To accept the staff recommendation with the adjustment that the allocation for lighting be reduced from $3,000,000 to $2,950,000, and the $50,000 difference be allocated to the city's facade program; and to direct staff to return to the council with a mechanism to effectuate the reallocation

Moved by: Councilmember RobinsonSeconded by: Councilmember Jimenez

Passed

6 to 0

Soheila BanaAye

Jamelia BrownAye

Claudia JimenezAye

Doria RobinsonAye

Sue WilsonAye

Cesar ZepedaAye

Eduardo MartinezAbsent

Why This Vote Matters

The council approved the city's year-end financial report and budget adjustments with broad support in a 6-1 vote, with Councilmember Martinez absent. The approved motion shifted $50,000 from the lighting budget to the facade program, reducing lighting funding from $3 million to $2.95 million. This is a routine administrative process that allows staff to balance the books and move money between budget categories at the end of each fiscal year. The council also directed staff to create a formal process for making this funding reallocation happen.

Auto-generated context. Source: official meeting records.

To accept staff recommendation with adjustment that allocation for lighting be reduced from $3,000,000 to $2,950,000, and $50,000 difference be allocated to facade program; direct staff to return with reallocation mechanism