Camarillo City Council
AGENDA REPORT
Date: October 14, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Mark Uribe, Finance Director
Subject: Revenue & Expenditure Report for August 2026
BACKGROUND
Pursuant to the City’s Fiscal Management Policy 3.03, 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 in June 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 17% at August 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 Sales Taxes (0% of budgeted amount) are typically received approximately two months in arrears due to the standard timing delays in receipts.
The first distribution for FY 2027 will be received in September 2026.
Revenue & Expenditure Report
October 14, 2026
• Actual revenues for Property Taxes (0.27% of budgeted amount) are typically received throughout the year, with the majority of collections occurring in December and April which aligns with the County of Ventura due dates for property tax payments.
• Actual revenues for Franchise Taxes are normally received quarterly or annually in April.
• Actual revenues for Special Assessments (0% of budgeted amount) are Stormwater benefit assessment fees that the City will receive in September 2027 and accrued back to the current fiscal year.
• Actual revenues for Subventions and Grants (0% of budgeted amount) are dependent on the timing of when eligible grant expenditures are incurred and reimbursed.
• Actual revenues for Investment Earnings (1.57% of budgeted amount) mainly consist of earnings from the Pension Trust Fund and other investment income.
While Pension Trust earnings are recognized monthly, the investment earnings are recorded quarterly and had not yet been recorded at the time this report was prepared.
• Actual expenditures for City Attorney (0.00% of budgeted amount) are due to the timing of when the City is billed for legal services and when those invoices are processed. Legal invoices are generally received approximately two months after the related services are rendered.
• Due to the timing of this report, transfers in and transfers out have not yet been recorded for the reporting period. These entries will be recorded at fiscal year-end.
Special Revenue Funds (Maintenance Districts)
• Maintenance Districts revenues are dependent on the timing the County distributes property tax apportionments to the City. The majority of revenue is received annually in December and April.
• 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)
• Actual revenues for Development Fees funds are mainly comprised of investment earnings which are recorded quarterly and have yet to be recorded at the time this report was prepared.
Revenue & Expenditure Report
October 14, 2026
• Transfers out of the Development Fees funds consist of Capital Improvement Project funding adjustments that are dependent on the progress 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 1.04% of its budgeted amount. Expenditures are dependent on the timing and progress of individual Capital Improvement Projects.
• Due to the timing of this report, transfers in and transfers out have not yet been recorded for the reporting period. These entries will be recorded at fiscal year-end.
Other Governmental Funds
• Actual revenues in the Grants Fund consist of grant revenue and investment interest earned on the unspent balance of the Encampment Resolution Fund Grant (ERF). The ERF is a multi-year grant for which the full $7.3million award was received in advance. Consistent with revenue recognition requirements, grant revenue is recognized as eligible expenditures are incurred, while investment interest is recorded quarterly.
• Due to the timing of this report, no grant revenue has been recognized for the reporting period, as grant revenue is analyzed and recorded at fiscal year-end.
Additionally, investment interest earned during September will be recorded at the end of the month.
• Actual revenues for Transportation Development Act (TDA) funding will be received in monthly installments beginning in October 2026. • Actual revenues for the Air Quality Fund consist of investment earnings, which are recorded quarterly and have not yet been recorded at the time this report was prepared.
• Actual revenues for CDBG funding are dependent on the timing when grant reimbursement requests are submitted and approved.
• Actual revenues for the Library Special Revenue Fund consist of annual cash contribution from the Friends of the Camarillo Library, which is normally received in November.
Revenue & Expenditure Report
October 14, 2026
• 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 (0.03% of budgeted amount) account for all eligible ERF operating costs incurred through August 2026. • Actual expenditures for the CDBG fund are 0% of budgeted amount due to no payments being made to eligible non-profit organizations and no administrative program expenditures being incurred during the month. This is expected for this point in the fiscal year, as CDBG expenditures are dependent on the timing of eligible payments and administrative program activity. The projects remain on track, and expenditures will resume in the following months. • Actual expenditures for all Other Government Funds are dependent on the timing of when the City’s consultants invoice the City for services. • Due to the timing of this report, transfers in and transfers out have not yet been recorded for the reporting period. These entries will be recorded at fiscal year-end.
Enterprise Funds
• Actual revenues for the Transit fund (0.43% of its budgeted amount) are dependent on the timing when grant reimbursement requests are submitted and approved.
• Due to the timing of this report, transfers in and transfers out of the Enterprise fund have not yet been recorded for the reporting period. These entries will be recorded at fiscal year-end.
The report for August 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 August 2026 - Preliminary REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None