RESOLUTION NO._________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COMMERCE APPROVING MID-YEAR BUDGET AMENDMENTS FOR FISCAL YEAR 2025-26 WHEREAS, the City Council of the City of Commerce adopted the Fiscal Year 2025–26 Budget; and WHEREAS, as part of the Fiscal Year 2025–26 Mid-Year Budget Review, staff has identified additional General Fund revenue attributable to higher than anticipated interest earnings on City investments; and WHEREAS, staff has further identified the need for budget adjustments to support one-time expenditures, including potential participation in the Proposition A Local Return fund exchange program, operational costs associated with the City’s 2026 Independence Day celebration, and activities related to the potential placement of a local sales tax ballot measure; and WHEREAS, the recommended budget amendments are funded by available revenues and do not create ongoing fiscal obligations; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COMMERCE DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council of the City of Commerce hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution SECTION 2. The City Council hereby approves the following budget amendments for Fiscal Year 2025–26:
Recognize additional General Fund revenue in the amount of $1,415,000 in account 10-4000-34000, attributable to higher than anticipated interest earnings on City investments.
Appropriate $1,000,000 in account 10-6510-73980 to support participation in the Proposition A Local Return fund exchange program, subject to future City Council action and program availability.
Appropriate $215,000 in account 10-8725-54095.10081 to fund operational costs associated with the City’s 2026 Independence Day celebration.
Appropriate $200,000 in account 10-1020-52001 to fund professional services, outreach, and other eligible expenditures related to the potential placement of a local sales tax ballot measure.
SECTION 3. These budget amendments result in no net fiscal impact to the General Fund, as the appropriations are fully offset by additional revenues and available resources.
SECTION 4. The City Manager and the Finance Director are authorized and directed to take all actions necessary to implement this Resolution.
SECTION 5. This Resolution shall take full force and effect immediately upon adoption by the City Council.
PASSED, APPROVED, AND ADOPTED this 24th day of February 2026. _______________________________
Kevin Lainez, Mayor
ATTEST:
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Melanie Park, Deputy City Clerk