Camarillo City Council
AGENDA REPORT
Date: June 24, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Mark Uribe, Director of Finance
Subject: Amendment to City Council Policy 3.05, Reserve Level
BACKGROUND
Policy 3.05 establishes guidelines that the City will maintain unappropriated fund or working capital balances in the General Fund, certain Enterprise Funds, certain Special Revenue Funds, Debt Service Funds and Internal Service Funds, and the Capital Improvement Funds. The policy was developed to consider the targeted levels necessary to maintain the City’s credit worthiness and to adequately provide for economic uncertainties and other financial hardships or downturn in the local or national economy; local disasters or catastrophic events; debt or capital obligations; cash flow requirements; and legal requirements. The policy was last amended in January 2022.
DISCUSSION
Over the last year, staff has been reviewing the fiscal health of the City’s Water Utility and the Camarillo Sanitary District’s (CSD) Wastewater Utility Enterprise Funds with several significant capital improvement needs identified in the future. In working with the City’s financial advisor, there were recommended revisions to the Reserve Level Policy. The addition of Rate Stabilization Funds to the City Water and Camarillo Sanitary District Wastewater Enterprises was recommended to help defray excessive annual rate increases resulting from unexpected operational changes, and to best position the utilities for future borrowing options to fund future capital improvement projects. The proposed revision incorporates recommendations from the City’s financial advisor.
On June 3, 2026 staff presented this item to the Policy Committee. The Committee reviewed the changes and requested the recommendations be forwarded to the City Council for approval.
FISCAL IMPACT
There is no budget impact as a result of this action.
Amendment to City Council Policy 3.05, Reserve Level
June 24, 2026
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RECOMMENDATION
Approve the amendments made to City Council Policy 3.05, Reserve Level.
ATTACHMENTS
1. Policy 3.05, Reserve Level with Proposed Revisions
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None