RESOLUTION NO. 2026-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMARILLO APPROVING THE CITY OF CAMARILLO’S COMMITMENT OF FUND
BALANCE
The City Council of the City of Camarillo resolves as follows:
SECTION 1: The City Council of the City of Camarillo finds and declares as follows:
A. The Governmental Accounting Standards Board (GASB) has issued its Statement No. 54, Fund Balance Reporting a nd Governmental Fund Type Definitions, with the intent of improving financial reporting by providing fund balance classifications that will be more easily understood; and
B. The City Council adopted Policy 3.10 entitled “Governmental Accounting Standards Board (GASB) Statement No. 54 Policy”, which provides that the City Council may Commit F und Balance for specific purposes by taking formal action, and these Committed amounts cannot be used for any other purpose unless the C ity Council removes or changes the specific use through the same formal action taken to establish the Commitment; and
C. It is recommended to the City Council that a Commitment of $ 95,258,526 of the General Fund Unrestricted Fund Balance be established for Council Reserve Goal of $30,953,526 Facility Improvement Projects of $16,905,000, Natural Disaster Recovery of $10,000,000, Pleasant Valley Rec & Park District (Community and Senior Center) of $8,000,000, Economic Development of $5,400,000, Information Technology Master Plan of $5,000,000, Continuum of Care of $ 3,800,000, Camarillo Springs Debris Barrier Remediation Maintenance of $200,000, and Loan to Water Utility of $15,000,000 for the Fiscal Year ending June 30, 2026.
SECTION 2 : City Council establishes and approves the Commitment of $95,258,526 of the Unrestricted Fund Balance.
SECTION 3: The Acting City Clerk shall certify the adoption of this Resolution.
PASSED AND ADOPTED June 24, 2026.
Mayor
Attested to on_________________________
____________________________________
Acting City Clerk
Resolution No. 2026-
I, Silvia Jaquez, Acting City Clerk of the City of Camarillo, certify Resolution No. 2026- was adopted by the City Council of the City of Camarillo at a regular meeting held June 24,2026, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
Acting City Clerk