Camarillo City Council
AGENDA REPORT
Date: April 23, 2025
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Mark Uribe, Finance Director
Subject: Fiscal Year 2025/26 Preliminary Budget Update and Economic Report
BACKGROUND
Staff will present a brief update on the development of the draft budget for Fiscal Year 2025/26. The proposed budget will be presented for discussion at the Budget Workshop on June 4, 2025.
DISCUSSION
Staff will present a high-level overview of the trends/forecasts and economic factors impacting the General Fund revenues as part of the FY 2025/26 budget development process.
The FY 2025/26 budget will reflect slowing General Fund revenues due to the uncertain economic conditions such as the potential impacts of trade tariffs, inflation and federal interest rates. The City will continue monitoring the risks as they relate to consumer confidence which impacts the major City revenues including Sales Tax, Property Tax, and Transient Occupancy Tax.
The City’s Investment Advisor, Chandler Asset Management, Inc will present an Economic Report to provide additional context for an outlook on economic conditions.
FISCAL IMPACT
There is no budget impact as a result of this action.
RECOMMENDATION
Receive and file of verbal presentation.
ATTACHMENTS
None
Economic Report by Investment Advisor
April 23, 2025
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REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None