City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 1 City of Camarillo
Mid-Year Budget Report
Fiscal Year 2025/26
July 1 through December 31, 2025
To: Greg Ramirez, City Manager
From: Mark Uribe, Director of Finance
OVERVIEW
The City of Camarillo Mid-Year Financial Report summarizes the City’s financial information from July 1 through December 31, 2025 compared to budgetary estimates.
The City’s FY 2025/26 Mid-Year financial position remains stable. The General Fund is expected to draw on its fund balance to accommodate encum brance rollovers from t he prior Fiscal Year and one-time projects planned to be funded with available unrestricted fund balance. Additionally, City Council has approved additional appropriations , from July 1, 2025 to December 31, 2025, further impacting the General Fund fund balance.
One of the largest General Fund revenue sources, sales tax, is experiencing a decline, reflecting shifts in consumer spending and economic conditions. However, this decrease is offset by higher investment earnings and unsecured property tax revenue. This report discusses the recommended budget adjustments to revenue and expenditure projections based on trends and anticipated program activity for the remainder of FY 2025/26.
The General, Citywide Lighting and Landscape, Capital Improvement Projects (CIP), Solid Waste, Transit, Water, and Sanitary District Funds are considered “ major funds” and are our primary focus since their budgets represent the majority of the City’s total budget.
EXECUTIVE SUMMARY
During the FY 2025/26 budget development, the future course of the national fiscal policy, interest rates and inflation impacted the US economy, leading to consi derable uncertainty in local economic forecasts. Now, tariffs, immigration reform, and geopolitical conflict have added to the general economic uncertainty. At the mid-point of the Fiscal Year, the City’s budget is experiencing downward trends particularly in its Sales Tax and increases in Unsecured Property Tax and Investment Earning forecasts. A decrease in Sales Tax is primarily related to two of the largest categories of sales tax revenue: General Consumer Goods and Auto and Transportation.
On the other hand, the City’s investment portfolio average cash balances have increased, therefore earning higher rev enue earnings from the City’s in vestment in the Local Agency
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 2 Investment Fund (LAIF) and other investment secu rities. In addition, Pro perty tax, the City’s largest General Fund revenue source, is trending above budget due to higher unsecured assessed values and one-time in-lieu revenues.
While no further major impacts in General Fund ar e expected for the remainder of FY 2025/26, we remain vigilant in monitori ng potential risks, includ ing the evolving of nat ional fiscal policies, the State’s budget deficit and fiscal constraints, and sales tax vola tility and consumer spending, which may influence future economic conditions.
GENERAL FUND (101)
The General Fund is where the majority of discretionary f unds are recorded and where most general municipal services are provided. Operating transfers are made to the Citywide Lighting & Landscape, Capital Projects, and Solid Waste Funds . Staff maintains a 5-year General Fund Forecast for fiscal sustainability planning that is updated annually with each budget cycle.
As of December 31, the General Fund has re corded 33.6% of the projected revenues and transfers-in, and 34.3% of budgeted expenditures and transfers-out, compared to the prior year trend of 45.5% and 37.8% respectively, over the same measurement period. The difference in total revenue received is primarily due to timing of property and sales tax revenue received.
The amended budget column reflects any additional budget appropriations approved by the City Council through December 31, 2025 and any prior year encumbrance rollovers.
After the recommended adjustments, the projected fund balance for the General Fund on June 30, 2026 is projected at $103.5 million, a planned use of fund bal ance of $7.7 million compared to the beginning fund balance of $111.2 million at July 1, 2025. The primary reason for the decrease in fund balance is due to: a $2.0 million expenditure for Homekey+ Permanent Supportive Housing Project Partnership with the County of Ventura, $1.8 million in encumbrance rollovers from the prior Fiscal Y ear in the current Fiscal Year, $1 .2 million in one-time projects from prior year, $1.4 m illion in pension liability payments, and $1.2 million in Mid-Year budget request the will be detailed further in this report.
Adopted
Budget
Amended
Budget
YTD
Actual
YTD
Percent
Revenues 58,720,626$ 58,720,626 $ 19,700,604 $ 33.5% (681,524)$ 58,039,102$ Transfers In 2,018,831 2,018,831 699,187 34.6% - 2,018,831 Revenues & Transfers In 60,739,457 60,739,457 20,399,791 33.6% (681,524) 60,057,933 Expenditures 58,765,496 62,566,879 22,647,851 36.2% (215,337) 62,351,542 Transfers Out 4,602,329 4,602,329 414,900 9.0% 799,094 5,401,423 Expenditures & Transfers Out 63,367,825 67,169,208 23,062,751 34.3% 583,757 67,752,965 Revenues Over/(Under) Expenditures (2,628,368) (6,429,751) (2,662,960) (1,265,281) (7,695,032) Fund Balance, July 1 100,944,389 111,199,615 111,199,615 Fund Balance, End of Period 98,316,021$ 104,769,864 $ 103,504,583$ General Fund Summary (December 31, 2025)
Recommended
Mid-Year
Adjustments
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 3 General Fund Revenues and Transfers-in. In the Recommended Budge t, the seven primary revenue sources account for approximately 85.3% of the total projected General Fund revenues.
Performance for these key revenues for the first half of the fiscal year is summarized in the schedule below. The total recommended budget revenues and transfers-in for FY 2025/26 are $60.1 million, after a decrease of ($0.7) million in recommended Mid-Year adjustments which are highlighted below.
The following anticipated impacts are factored into the revenue projections put forth in the FY 2025/26 Recommended Budget adjustment totaling a decrease of ($681,524).
Property Tax – Property tax is expected to be the largest revenue source for the General Fund in FY 2025/26. As of December 31, the City has realized 35.7% of the $20.6 million amended budget, as compared to 57.4% of the revenues realized through the same period last year. Timing of the remittances for pro perty tax from the Count y of Ventura are the main drivers behind the lower realized percent age this year when compared to the prior year. The net recommended adjustment of $932,592 is primarily attributed to an increase of approximately 35% in unsecured property val ue assessed valuation, as well as a one- time increase in vehicle license fee in lieu of property tax. Sales Tax – Sales Tax is the second largest rev enue source for the General Fund in FY 2025/26. As of December 31, the City has realized 29.8% of t he $18.8 million amended budgeted sales tax, when compared to 41.0% of the revenue realized through the same period last year. The recommended downward adjustment of $1,902,370 is primarily due to decreases in the Auto and Transportation and General Consumer Goods categories, attributed to the impact of national federal polic ies on interest rates, inflation, and trade dynamics that are a direct correlation to consumer behavior and spending. Transient Occupancy Tax – A revenue decrease of $329,490 is recommended to reflect the delay in the anticipated July 2025 opening of a new hotel . The hotel did not open as projected, and the revised opening date is currently unknown. As a result, revenue projections have been adjusted accordingly. As of December 31, the City has realized
38.3% of the annual budgeted revenue compared to 46.4% of the revenues realized during the same period last fiscal year.
Charges for Services – A net decrease is recommended in the amount of ($29,711) based on a net adjustment attributable to a reduction in projected Planning and Zoning revenues, and an increase due to one-time subdivision fees.
Revenue Sources Adopted
Budget
Property Tax 20,606,432 $ 20,606,432 $ 7,350,584 $ 35.7% 932,592$ 21,539,024 Sales Tax 18,750,000 18,750,000 5,584,056 29.8% (1,902,370) 16,847,630 $ Franchise Fees 3,155,948 3,155,948 484,166 15.3% 3,155,948 Transient Occupancy Tax 3,608,133 3,608,133 1,380,791 38.3% (329,490) 3,278,643 Building Permits 2,324,340 2,324,340 1,171,713 50.4% 2,324,340 Business Tax 1,683,000 1,683,000 833,612 49.5% 1,683,000 Charges for Services 2,430,160 2,430,160 672,875 27.7% (29,711) 2,400,449 Total 52,558,013 52,558,013 17,477,797 33.3% (1,328,979) 51,229,034 Other Revenue Sources 6,162,613 6,162,613 2,222,807 36.1% 647,455 6,810,068 Transfers In 2,018,831 2,018,831 699,187 34.6% - 2,018,831 Total Fund Revenue 60, 739,457$ 60,739,457 $ 20,399,791 $ 33.6% (681,524)$ 60,057,933$ Amended
Budget
YTD
Actual
YTD
Percent
Recommended
Mid-Year
Adjustments
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 4 Other Revenue Sources – The largest component of this category is investment earnings and an adjustment is being recommended in the amount of $0.8 million as a result of higher earnings due to higher cash balances in the City’s investments portfolio.
General Fund Expenditures and Transfers-out. As illustrated in the table below, the General Fund divisional expenditures and transfers-out are averaging 34.3% of the annual budget. Details on the $583,757 material recommended Mid-Year adjustments are highlighted below.
City Clerk – A decrease of $98,820 reflects lower-t han-estimated project costs for document storage and scanning that will not be recognized in the current fiscal year. City Manager – An increase of $10,000 is related to Sustainability Master Plan project. Finance – An increase of $33,000 reflects an increa se related to the one-time Internal Services Fund Assessment with Capital Gov’t consulting partners. Human Resources – A net increase of $135,460 reflects the need for a comprehensive benefit review and organizational assessment.
Community Development – A decrease of $30,000 reflects the reduction in program costs related to grants.
Public Works/Traffic Signal – A net increase of $155,000 supp orts development of an Active Transportation Program (ATP) grant application and f unds targeting pedestrian safety, accessibility, and traffi c signal improvements, including illuminated street name Divisions Adopted
Budget
City Council 718,238 732,619 $ 320,030 $ 43.7% 732,619$ City Clerk 775,944 905,534 289,212 31.9% (98,820) 806,714 City Attorney 460,060 522,100 188,517 36.1% 522,100 City Manager 2,077,111 2,084,616 746,203 35.8% 10,000 2,094,616 Community Relations 741,840 741,840 271,177 36.6% 741,840 Emergency Operations 298,413 315,821 74,339 23.5% 315,821 Finance 1,892,011 2,057,514 896,038 43.6% 33,000 2,090,514 Human Resources 1,083,829 1,165,005 432,047 37.1% 135,460 1,300,465 Community Development 4,084,840 4,357,505 1,832,591 42.1% (30,000) 4,327,505 Code Compliance 1,207,362 1,207,362 479,624 39.7% 1,207,362 Police 22,275,622 22,370,622 6,871,066 30.7% 22,370,622 DART 49,765 49,765 14,573 29.3% 49,765 Building & Safety 2,162,844 2,162,844 1,002,526 46.4% 2,162,844 Public Works - Administration 3,078,304 3,156,172 1,570,027 49.7% 3,156,172 Traffic Signal Maintenance 1,903,726 2,515,431 1,284,602 51.1% 155,000 2,670,431 Storm Water Management 1,410,345 1,419,976 476,311 33.5% 1,419,976 Street Maintenance 3,329,252 3,368,157 1,369,358 40.7% 3,368,157 Community and Human Services 562,386 2,587,324 185,108 7.2% (254,477) 2,332,847 HHP Voicher Program 358,000 358,000 71,989 20.1% 358,000 Cultural Arts Services 935,124 937,624 445,425 47.5% 937,624 Library Operations 3,496,261 3,496,261 1,670,992 47.8% 3,496,261 City Hall Facility 1,747,238 1,858,397 720,126 38.8% 65,000 1,923,397 Corp Yard Facility 632,623 648,979 218,681 33.7% 648,979 Police Facility 803,420 850,414 338,076 39.8% (125,000) 725,414 Library Facility 1,384,027 1,390,995 517,995 37.2% (37,000) 1,353,995 Chamber of Commerce Facility - - - 0.0% - Economic Development 781,911 791,002 325,829 41.2% (68,500) 722,502 Non Departmental 515,000 515,000 35,389 6.9% 515,000 Total 58,765,496 62,566,879 22,647,851 36.2% (215,337) 62,351,542 Operating Transfers Out 4,602,329 4,602,329 414,900 9.0% 4,602,329 CIP Transfers Out - 0.0% 799,094 799,094 Total Fund Expenditures 63,367,825$ 67,169,208 $ 23,062,751 $ 34.3% 583,757$ 67,752,965$ Amended
Budget
YTD
Actual
YTD
Perce
nt
Recommended
Mid-Year
Adjustments
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 5 signage, audible pedestrian pus h buttons, and rehabilitation of the Old Town Historical Clock in FY 2025/26.
Community & Human Services– A decrease of $254,477 reflects actual costs related to grant funding received for Project Hope R apid Rehousing. Additionally, adjustments for Healthy Camarillo consultant services, moving assistance for Project Hope clients, and HHAP-4 administrative funds based on actual grant balances and anticipated expenditures.
Facilities– A net decrease of $97,000 reflects timing of facilities projects. Economic Development– A net decrease of $70,662 refl ects updated timing of the Camarillo Old Town Strategic Plan update.
Transfers Out – A net increase of $0.8 million is related to a transfer increase of $397,465 to Capital Improvement Fund due to timing of Capital Improvement Projects and a transfer increase of $401,629 to Solid Waste Fund from the General Fund to support Solid Waste operation.
At June 30, 2025, the total G eneral Fund fund balance was $111,100, 615 million. Of that total, $2.8 million was assigned and non-spendable and $89,888,913 million was committed as follows:
• Council Reserve Policy Goal $ 31,683,913 • Facility Improvement Projects 14,405,000
• Natural Disaster Recovery 10,000,000
• Pleasant Valley Rec & Park District
o Community and Senior Center 8,000,000
• Economic Development 5,400,000
• Continuum of Care 3,800,000
• Camarillo Springs Debris Remediati on 200,000 • General Fund Loan to Water Utility Fund 15,000,000 • Unfunded Accrued Liability PRSP Trust Fund 1,400,000 Total Committed Fund Balance $89,888,913
The General Fund Unassigned Fund Balance was $17.9 million at June 30, 2025. This balance in General Fund “available reserves” may be necessary to fund several one-time planned facility improvement projects and planned capital improvement projects over the next five years for which there is no other identified funding source. Staff are actively searching for other possible sources, including grant opportunities.
Citywide Lighting & Landscape District Fund (220)
The Citywide Lighting and Land scape Maintenance District Fund supports maintenance requirements throughout the City . The City’s share of the 1% ad valorem property tax is designated for this purpose. These property tax re venues are projected to be $2.9 million with a General Fund transfer of approximately $3.6 million funding the remainder of the operating costs.
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 6
The Citywide Lighting & Landscape District Fund has recognized 39.8% of the total expenditures, including encumbrances, through December 2025.
The recommended adjustment of $2,119 is to reflect actual total revenue related to bike lane funding from Ventura County Transportation Commission.
While current projections for current year 2025/26 indicate a projected fund balance shortfall, our analysis suggests that estimated actual expenditu res will likely be below budget, resulting in a positive year-end financial position.
CAPITAL IMPROVEMENT PROJECTS FUND (410)
The Capital Improvement Projects (CIP) Fund a ccounts for the City’s general capital projects, primarily the Annual Pavement Program. Revenues and expenditures are budgeted in the fiscal year corresponding with the various stages of the projects.
On June 11, 2025, the City Council approved the City’s 2025- 2030 Five-Year Capital Improvement Program. The Adopted Citywide CIP Plan includes a total expenditure budget of $29.7 million for FY 2025/26, of which $16.2 million was budgeted in the CIP Fund (410). The current budget of $32.4 million includes carry-over funding for ongoing projec ts from prior fiscal years and any budget changes approved by the City Council in the current fiscal year.
Funding for the CIP projects comes from a variety of sources, including federal, state, and county agencies, as well as capital fees collected from developers.
The timing of capital projects fluctuates throughout the year. Through December 31, 2025, $3.2 million or 9.8% of total budget ed expenditures have been dis bursed and encumbered primarily for the City’s annual pavement program.
Adopted
Budget
Amended
Budget YTD Actual
Percent
Realized
Recommended
Mid-Year
Amendments
Recommended
Budget
Total Revenues & Transfers In 6,506,749$ 6,506,749 $ 1,446,180 $ 22.2% 2,119 6,508,868$ Total Expenditures & Transfers Out 6,494,749 6,583,711 2,621,760 39.8% - 6,583,711 Revenues Over/(Under) Expenditures 12,000 (76,962) (1,175,580) 2,119 (74,843) Fund Balance, July 1 (49,302.00) - - Fund Balance, June 30 (37,302) $ (76,962) $ (74,843)$ Citywide Lighting and Landscape Maintenance Fund Summary (December 31, 2025) Adopted
Budget
Recommended
Mid-Year
Adjustment
Recommended
Budget
Total Revenue and Transfers In 9,407,627$ 19,638,056 $ 536,099 $ 2.7% 3,853,351 23,491,407 $ Total Expenditures and Transfers Out 16,168,242 32,396,946 3,171,007 9.8% - 32,396,946 Revenues Over/(Under) Expenditures (6,760,615) (12,758,890) (2,634,908) 3,853,351 (8,905,539) Fund Balance, July 1 10,162,536 11,737,218 11,737,218 Fund Balance, End of Period 3,401,921$ (1,021,672) $ 2,831,679$ Capital Improvement Projects Fund Summary (December 31, 2025) Amended
Budget
YTD
Actual
YTD
Percent
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 7 A recommended transfer-in of $3.9 million is to reflect timing of Capital Improvement Projects fund through various special revenue funds such as: Tr affic Mitigation Fees, Ar ticle 8 Transportation Development Act funding, and Bridge Policy Fees.
SOLID WASTE FUND (805)
The Solid Waste Fund accounts for City provided refuse and recycling programs for residential and commercial customers and a green waste program for residential cu stomers. The City contracts with a local hauler through an exclusive franchise agreement.
Through December 31, 2025, the Solid Waste Fund recognized 22.8% of annual projected revenues and 96.6% of annual budgeted expenses, compared to 48.5% and 48.1% respectively during the same period last fiscal year. The change in realized revenue and expenditures reflects the shift that occurred in FY 2025/26 of Solid Wa ste customer service transition from City of Camarillo to E.J. Harrison & Sons.
A recommended transfer-in in the amount of $401,629 from the Refuse Franchise Fee Revenue in the General Fund is to support a one-time pos ting entry to the fund related to the service transition to E.J. Harrison.
TRANSIT FUND (810)
Costs associated with operating the City’s transit system are recorded in the Transit Fund. The transit operation is funded through Federal Transit Administration (FTA) Grants, Transportation Development Act (TDA) Article 8 and state-provided transit funding SB 125.
Adopted
Budget
Revenues 617,628 $ 787,849 $ 179,412 $ 22.8% -$ 787,849$ Transfers In 200,000 200,000 - 0.0% 401,629 601,629 $ Total Revenues & Transfers In 817,628$ 987,849 $ 179,412 $ 22.8% 401,629$ 1,389,478$ Operating Expenses 816,329 888,421 858,101 96.6% 418,563 1,306,984 Revenues Over/(Under) Expenses 1,299 99,428 (678,689) -73.8% (16,934) 82,494 Working Capital, July 1 325,616 262,796 262,796 Working Capital, End of Period 326,915$ 362,224 $ 345,290$ Solid Waste Summary (December 31, 2025)
Amended
Budget
YTD
Actual
YTD
Percent
Recommended
Mid-Year
Adjustment
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 8
Through December 31, 2025, the Transit Fund has expended 49.5% of annual budgeted expenses.
A net recommended revenue and transfer-in increas e of $0.5 million to reflect grant and reimbursement activity for tr ansit improvements and vehicle procurement, including fully reimbursed bus stop improvement s, federal transit reimburse ments, and the appropriate allocation of funding to support transit vehicle purchases.
A net recommended expense increase of $0.6 million to reflect fully reimbursed VCTC grant activity and to align transit capital expenditures with the appropriate funding sources.
WATER FUNDS (860 through 864)
The Water Utility is where revenue and expenses associated with the City’s water service, including Reclaimed Water, Water Conservation Credit, Water Capital Projects, and Water Debt Service are recorded. This ent erprise operation is fully self-s upporting and derives the majority of its revenue from user charges. Other revenue sources include investment earnings and capital fees collected from developer s. The City provides water and associated maintenance to approximately 14,000 customers. Four other water districts serv ice portions of the City, with the largest of these districts being the Camrosa Water District, which serves customers east of Lewis Road. The Water Utility Fund has been divided into five separate funds for budgeting and accounting purposes. For the purposes of this report, the funds have been combined.
Adopted
Budget
Revenues
Transit Services 148,500 $ 148,500 $ 65,518 $ 44.1% 421,217$ 569,717 $ Grants 2,256,259 2,256,259 34,003 0.0% 2,256,259 Total Revenues 2,404,759 2,404,759 99,521 4.1% 421,217 2,825,976 Transfers In 1,677,664 1,767,664 - 0.0% 108,446 1,876,110 Total Transit Fund Revenue 4,082,423 4,172,423 99,521 2.4% 529,663 4,702,086 Expenses
Operating Expenses 3,896,331 3,759,208 1,500,252 39.9% 592,908 4,352,116 Capital Purchases 245,272 367,908 0.0% - 245,272 Grants/Allocations/Depreciation 70,059 70,059 148,957 212.6% - 70,059 Total Transit Fund Expenses 3,966,390 4,074,539 2,017,117 49.5% 592,908 4,667,447 Transfer Out - - - 0.0% - - Total Transit Fund Expenses 3,966,390 4,074,539 2,017,117 49.5% 592,908 4,667,447 Revenues Over/(Under) Expenses 116,033 97,884 (1,917,596) (63,245) 34,639 Working Capital Balance, July 1 50,323 156,082 156,082 Working Capital, End of Period 166,356$ 253,966 $ 190,721$ Amended
Budget
YTD
Actual
YTD
Percent
Recommended
Mid-Year
Adjustment
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 9
Through December 31, 2025, in total, the Wa ter Funds have recognized 46.2% of annual projected revenues, compared to 60.2% last fiscal year.
Approximately 44.8% of annual
budgeted expenses and transfers-out have been disbursed, when compared to 41.1% at the same time last year.
The net recommended revenue decreas e of $1.2 million is primarily driven by reduced water demand. This decline is attributed to a wetter-t han-normal winter season. A July 1 increase in water rates may also have contributed to conservation efforts and lower overall consumption.
A net recommended increase in expens es of $0.6 million is primarily related to projections for operating costs and staffing changes. The increase in expenses is partially offset by a reduction of expenses in purchased water costs and also offset by refined testing requirements and deferred consulting services.
As part of the City's fiscal resilience strategy for FY 2024/25, the Council established a $15.0 million commitment from the Genera l Fund to maintain fiscal stability in the Water Fund while recently adopted rate increases begin to gradually take effect in meeting ongoi ng operational costs. This strategic commitment enables temporary resources on an as-needed basis, ensuring continuity of essential water services and priority water capital projects while protecting the City's long-term fiscal health through a st ructured inter-fund loan approach. This loan is available and will be utilized to offset budgetary shortfalls in the Water utility.
All Water Funds Adopted
Budget
Revenues
Water Service Charges 21,453,577 $ 21,453,577 $ 10,137,490 $ 47.3% (1,226,900)$ 20,226,677 $ Other Water Services Revenue Sources 554,245 554,245 422,760 76.3% 554,245 Investment Income 501,973 501,973 165,486 33.0% 501,973 Grants - - - 100.0% - Other Revenue Sources 1,158,918 1,158,918 273,358 23.6% 1,158,918 Capital Improvement Fees 226,170 226,170 46,867 20.7% 226,170 Total 23,894,883 23,894,883 11,045,961 46.2% (1,226,900) 22,667,983 Transfers-In - - - 0.0% - Total Revenue and Transfers-In 23,894,883 23,894,883 11,045,961 46.2% (1,226,900) 22,667,983 Expenses
General & Administrative 5,945,267 6,113,543 3,524,004 57.6% 585,500 6,699,043 Maintenance & Operations 17,890,919 18,946,415 7,676,163 40.5% - 18,946,415 Water Conservation Credit 7,000 616,170 27,822 4.5% - 616,170 Capital Purchases & Projects 8,049,869 10,051,699 3,263,800 32.5% - 10,051,699 Debt Service - 480 3,025 0.0% - 480 Depreciation - - 1,519,959 0.0% - - Total 31,893,055 35,728,307 16,014,773 44.8% 585,500 36,313,807 Transfers-Out - - - 0.0% - Total Expenses and Transfers-Out 31,893,055 35,728,307 16,014,773 44.8% 585,500 36,313,807 Revenues Over/(Under) Expenses (7,998,172) (11,833,424) (4,968,812) (1,812,400) (13,645,824) Working Capital, July 1 16,442,281 11,844,685 11,844,685 Working Capital, End of Period 8,444,109$ 11,261 $ (1,801,139)$ Water Funds Summary (December 31, 2025)
Ame nde d
Budget
YTD
Actual
YTD
Percent
Recommended
Mid-Year
Adjustme nt
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 10 SANITARY DISTRICT FUNDS (871 through 873)
The Camarillo Sanitary District (CSD) is a separate governmental entity, formed in 1955 to provide wastewater treatment servic es for approximately 15,000 residential and commercial customers within its boundaries. The CSD is fully self-supporting and derives the majority of its revenue from user charges for services render ed. Other funding sources inclu de property taxes, investment earnings and capital fees colle cted from developers. The CSD has been divided into three separate funds for budgeting and accounting purposes. For purposes of this report, the funds have been combined.
Through December 31, 2025, the Sanitary Distr ict Funds have recognized 45.0% of annual
projected revenues, compared to 57.0% last fiscal year. Year to date expenses and transfers-out are 34.2% of the total annual budget, compared to 28.4% last fiscal year, primarily due to timing of capital project activity.
A recommended revenue decrease of $0.2 million is included to reflect change in service delivery and billing responsibility for refuse services effective August 2025.
A recommended expense decrease of $0.2 million is primarily due the elim ination of special studies and the realignment of grant-related costs to specific project.
Special Revenue Funds
Recommended budget adjustments to the Special Revenue Funds include:
Adopted
Budget
Revenues
Sewer Service Charges 19,293,669 $ 19,293,669 $ 8,880,612 $ 46.0% (176,000)$ 19,117,669$ Property Taxes 1,775,640 1,775,640 890,935 50.2% - 1,775,640 Other Revenue Sources 1,914,632 1,914,632 936,112 48.9% - 1,914,632 Capital Improvement Fees 193,871 193,871 29,617 15.3% - 193,871 Investment Income 2,243,891 2,243,891 714,189 31.8% - 2,243,891 Total Revenue 25,421,703 25,421,703 11,451,465 45.0% (176,000) 25,245,703 Expenses
General & Administrative 7,684,912 9,369,434 3,060,145 32.7% (225,000) 9,144,434 Maintenance & Operations 10,500,845 10,572,288 3,958,478 37.4% - 10,572,288 Debt Service 515,026 515,311 2,915 0.6% - 515,311 Capital Projects & Purchases 6,340,000 10,810,295 2,571,131 23.8% - 10,810,295 Grants/Allocations/Depreciation - - 1,110,883 0.0% - - Total Expenses 25,040,783 31,267,328 10,703,552 34.2% (225,000) 31,042,328 Revenues Over/(Under) Expenses 380,920 (5,845,625) 747,913 49,000 (5,796,625) Working Capital, July 1 52,532,001 68,886,501 68,886,501 68,886,501 Working Capital, End of Period 52,912,921$ 63,040,876 $ 69,634,414 $ 63,089,876$ Sanitary District Summary (December 31, 2025)
Amended
Budget
YTD
Actual
YTD
Percent
Recommended
Mid-Year
Adjustment
Recommended
Budget
City of Camarillo - Mid-Year Budget Report Fiscal Year 2025/26 Page 11 SB 125 Fund (206) – A net expense decrease of $0.3 m illion is due to realignment of transit vehicle procurement to the Transit Fund (810) and the corresponding adjustment of funding transfers
Article 8a TDA Fund (208) – An expense increase of $1.9 million is to reflect the allocation of dedicated TDA revenues to support approved capital projects, with funds transferred to the Capital Projects Fund (410).
Article 3 TDA Fund (209) – A revenue increase of $2,119 reflects additional funds received from VCTC, with a corresponding tr ansfer to the Lighting and Landscape Fund (220), resulting in a net zero budget impact.
Traffic Mitigation Fund (251) – An expense increase of $0.8 million is to reflect the allocation of dedicated TMF revenues to s upport approved capital projects, with funds transferred to the Capital Projects Fund (410).
Bridge Policy Fund (252) – An expense increase of $0.5 million is to reflects the allocation of dedicated Bridge revenues to support approved capital projects, with funds transferred to the Capital Projects Fund (410).
Air Quality Fund (275) - A revenue increase of $0.2 milli on is recommended to reflect a one-time air quality fee payment associated with development activity.
CDBG Fund (280) - A revenue decrease of $4,814 is re commended to reflect the final Council-approved CDBG allocation.
Internal Service Funds
Recommended budget adjustment to the Internal Service Funds:
Information System Fund (530) – An expense increase of $0.2 million is recommended due to anticipated additional cost to suppor t technology initiatives and the Citywide digitization project.
Vehicles & Equipment Fund (540) – An expense decrease of $0.2 million is recommended to reflect the timing of vehicle purchases and the recognition of cost efficiencies associated with electric vehicle acquisitions.
Summary
The recommended budget adjustments contained in this report are the result of our analysis of economic and financial data as of this time. Staff will continue to monitor economic conditions and the impacts on the City’s revenues and expenditures closely.
This summary is based on information produced by the City’s Finance Department. If you would like additional information or have any ques tions about the report, please contact Rena Robertson, at (805) 383-5654.