Camarillo City Council
AGENDA REPORT
Date: March 25, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Mark Uribe, Finance Director
Subject: Revenue & Expenditure Report for February 2026
BACKGROUND
Pursuant to the City’s Fiscal Management Policy 3.01, a monthly Revenue and Expenditure Report detailing the City’s financial status including revenues, expenditures, transfers in/out, and the projected fund balance/net position by Governmental and Proprietary Funds, will be provided to City Council for review.
DISCUSSION
The “Current Budget” column pertains to the current fiscal year budget that has been adopted and includes adjustments approved by City Council on February 11, 2026. The “Actual Year-to-Date” column presents the cumulative year to date revenues received and expenditures incurred for the current fiscal year. And lastly, the “Percentage of Budget” column calculates the percentage of Actual Year-to-Date activity compared to the Current Budget.
The percentage of the current fiscal year elapsed is 67% at February 2026. Please note revenues are not received, and expenditures are not paid uniformly throughout the fiscal year. Also note, revenues are often billed and reimbursed in arrears. Certain main revenue sources are received in two lump-sums during the fiscal year, such as Property Taxes which are received in December and April, while other revenue is received after grants are approved and funds have been spent.
Notable percentages are as follows:
General Fund
Actual revenues for Franchise Taxes (27.81% of budgeted amount) through February 2026 include solid waste and cable franchise taxes, and other franchise taxes are normally received quarterly or annually in April.
Revenue & Expenditure Report
March 25, 2026
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Actual revenues for Special Assessments (0% of budgeted amount) are Stormwater benefit assessment fees that the City will receive in September 2026 and accrued back to the current fiscal year.
Actual expenditures for Community and Human Services (11.30% of budgeted amount) are due to timing of the City’s capital contribution to the County of Ventura for the Homekey Permanent Supportive Housing Grant Program which is expected to occur in the last quarter of this fiscal year.
Actual expenditures for Capital Improvement Projects (CIP) Administration (92.51% of budgeted amount) include allocating staff time and related costs to on- going projects. Additionally, February allocations have not yet been recorded as of the date this report was prepared. The allocation of less staff time than anticipated to active projects is consistent with the nature of project activity, which fluctuates throughout the fiscal year.
Actual expenditures for Emergency Operations (36.79% of budgeted amount) are due to lower-than-anticipated operational charges, as well as reduced employee salary and benefit costs through February of this fiscal year. Transfers out of the General Fund are analyzed and recorded at the end of the fiscal year.
Special Revenue Funds (Maintenance Districts)
Transfers in to the Maintenance Districts Funds are analyzed and recorded at the end of the fiscal year. These include transfers to the Lighting & Landscape MD Fund and Zone 3-Armitos Stormwater Basin Fund.
Special Revenue Funds (Development Fees)
Transfers out of the Development Fees funds (9.97% of budgeted amount) comprise Capital Improvement Project funding adjustments that are dependent on the progression of Capital Improvement Projects and are recorded on a quarterly basis.
Capital Projects Funds
Actual revenues for Capital Improvement Projects are mainly comprised of grant revenues received from Los Angeles – San Diego – San Luis Obispo (LOSSAN) Rail Corridor Agency and Congestion Mitigation and Air Quality (CMAQ) Program, which are based on when grant-eligible expenses are incurred and reimbursed. Actual expenditures for the Capital Improvement Projects fund account for 17.99% of its budgeted amount as the costs of Capital Improvement projects are not uniformly spent throughout the fiscal year and are dependent on project progression.
Revenue & Expenditure Report
March 25, 2026
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Actual expenditures for the Camarillo Corridor Projects Area fund are mainly comprised of administrative fees that are not uniformly spent throughout the fiscal year.
Actual expenditures for the Low-Moderate Income Housing Asset fund are mainly comprised by administrative and legal fees that are not uniformly spent throughout the fiscal year.
Transfers in/out are analyzed and recorded during the fiscal year based on project progression.
Other Governmental Funds
Actual revenues for the Grants Fund (2.01% of its budgeted amount) account for investment interest earned on the unspent balance of the Encampment Resolution Fund Grant (ERF) through the second quarter of this fiscal year. The ERF is a multi-year grant for which the full $7.3 million award was received in advance, and the budget reflects the entire grant award, consistent with the City’s multi-year grant budgeting practice. However, under revenue recognition requirements, actual grant revenue is recognized only as eligible grant expenditures are incurred throughout the fiscal year.
Actual revenues for TDA 8(a) and TDA 8(c) funds began to be received in monthly installments beginning in November. TDA 3 funding has been fully received for this fiscal year.
Actual revenues for the Air Quality Fund (99.91% of its budgeted amount) account for revenue received for the Air Quality Fee related to the new Costco fuel station that is currently in development, along with higher-than-expected investment earnings.
Actual revenues for CDBG funding are dependent on the timing when grant reimbursement requests are submitted and approved.
Actual revenues for Cable PEG Fees are earned quarterly and normally received in the months of November, February, May, and August.
Actual expenditures for the Grants fund (1.35% of its budgeted amount) account for all eligible Encampment Resolution Fund Grant (ERF) operating costs incurred through February 2026.
Actual expenditures for the CDBG fund (10.94% of its budgeted amount) account for payments to all eligible non-profit organizations for costs incurred through February 2026.
Actual expenditures for all Other Government Funds are dependent on the timing of when the City’s consultants invoice the City for services.
Revenue & Expenditure Report
March 25, 2026
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Transfers out of the Other Government Funds are analyzed and recorded at the end of the fiscal year.
Enterprise Funds
Actual revenues for the Transit fund (13.92% of its budgeted amount) are not received uniformly throughout the fiscal year and they are dependent on grant reimbursement payments received.
Actual expenditures for Water Debt Service fund are (630.21% of its budgeted amount) due to annual administrative fees of $3,025 paid to the City’s Bond Trustee.
Transfers in/out of the Enterprise Fund are analyzed and recorded at the end of the fiscal year.
Internal Service Funds
Actual expenditures for Risk Management fund are (87.11% of its budgeted amount) due to liability insurance policies paid in full at the beginning of the fiscal year.
The report for February is preliminary due to the timing of when the report is prepared versus when the reporting month closes.
FISCAL IMPACT
There is no budget impact as a result of this action.
RECOMMENDATION
Receive and file report.
ATTACHMENTS
1. Revenue & Expenditure Report for February 2026 - Preliminary REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None