Budget and Finance Committee
Monthly General Fund and Measure C Update For
Period Ending June 30, 2026
Transactions Posted Through August 31, 2026
Presented: September 16, 2026
• Outstanding Revenue: The only known outstanding revenue is a final property tax payment which is currently projected to be $500,000. This is aligned with the amount presented in August and is included in the total projected revenues. • Projected Deficit (expenses exceeding revenues): Now projected to be under $500,000, which is $2.5 million LESS than projected in August. • After close (around September 30, 2026), staff will evaluate all transfers in and transfers out to close with revenues matching expenses. As part of FY 2026-27 Budget Resolution, Council authorized staff to increase transfers if required to end year with revenues balanced to expenses.
Monthly Update as of June 30, 2026 - Highlights
for Transactions posted through 8/31/2026
• Revenue (including transfers) trending $2.2 million above projection presented in August:
o Sales Tax was below August projection by nearly $500,000 and offset by UUT which was almost $600,000 over August projection; TOT also exceeded August projection by over $270,000.
o Real Property Transfer Tax was significantly higher than projected ($861,571 projected and $2.7 million received); staff obtaining more information and will provide an update at the meeting.
o All other revenue items ranged from $720 - $50,000 over projections and OPEB and Information Technology Transfer lower than projections. • Expenses trending $320,000 below projection presented in August:
• Transfer for Unfunded Accrued Liabilities (UAL) lower by $1.8 million and other operating transfers higher by $1.5 million.
• Staff will be reviewing the UAL allocation across all funds as well as all other transfers with the intention to bring the budget into balance (Revenues + Transfers In – Expenses – Transfers Out = $0) Monthly Update as of June 30, 2026 - Highlights
• Column B (Projection from August 19, 2026 CBFC Presentation): This is the projection presented at the August 19, 2026 CBFC meeting. • Column C (Unaudited Actuals): These are the amounts actually received or paid. Timing of receipt of revenue or payment of expense depend on the revenue or expense and will be discussed with the next slide.
• Column D (Projection as of September 2026): The projection is based on what is known and a forecast; it is described for each line in the Notes column. • Column E (Difference between September and August Projection): Column D – Column B
Table Key: Monthly Update as of June 30, 2026
for Transactions Posted as of August 31, 2026
General Fund Revenue - As of 6/30/2026
Transactions Posted through August 31, 2026
• Only known revenue outstanding is final property tax payment for June • Real Property Transfer Tax significantly higher than projected, and all revenues other than Sales Tax exceeded August Projection.
COLUMN A
COLUMN B
FY2026
PROJECTION AS
OF AUGUST
CBFC MEETING
COLUMN C
FY2026 UNAUDITED
ACTUALS POSTED
THROUGH AUGUST
31, 2026
COLUMN D
FY2026
PROJECTION AS
OF SEPTEMBER
2026
COLUMN E
SEPTEMBER 2026
FORECAST MINUS AUGUST
2026 CBFC PRESENTATION
(D - B)
% OF AUGUST
PROJECTION NOTES
Revenues
Property Tax 80,561,274 80,061,274 80,561,274 0 100% One more property tax at end of Aug Sales Tax 49,918,230 49,439,252 49,439,252 -478,978 99% Assume all payments received Utility Users Tax 22,843,954 23,437,828 23,437,828 593,874 103% Assume all payments received Franchise Fees 12,880,267 12,892,735 12,892,735 12,468 100% Assume all payments received Real Property Transfer Tax 10,313,319 12,220,633 12,220,633 1,907,314 118% Final payment put us at our target Transient Occupancy Tax 2,873,401 3,143,707 3,143,707 270,306 109% Assume all payments received Cannabis Tax 638,057 638,057 638,057 0 100% Assume all payments received Business License Tax 3,294,717 3,294,717 3,294,717 0 100% Assume all payments received Other Taxes | Emergency
Services Facilities Excise Tax 2,382,732 2,382,720 2,382,720 -12 100% Assume all payments received Charges for Services 12,753,656 12,773,618 12,773,618 19,962 100% Assume all payments received Inter-Governmental 7,418,709 7,464,634 7,464,634 45,925 101% Assume all payments received Fines & Forfeitures 3,106,688 3,117,751 3,117,751 11,063 100% Assume all payments received Other Revenues 1,262,043 1,288,553 1,288,553 26,510 102% Assume all payments received Interest & Rents 10,452 11,172 11,172 720 107% Actuals
Subtotal Revenues 210,257,499 212,166,651 212,666,651 2,409,152 101% Proposed Transfers-In to General Fund as of 6/30/2026
Based on Transactions posted through August 31, 2026
Takeaway: Revenue + Transfers is projected to be $2.2 M higher than the June projection
COLUMN A
COLUMN B
FY2026
PROJECTION AS
OF AUGUST CBFC
MEETING
COLUMN C
FY2026 UNAUDITED
ACTUALS POSTED
THROUGH AUGUST
31, 2026
COLUMN D
FY2026
PROJECTION AS
OF SEPTEMBER
2026
COLUMN E
SEPTEMBER 2026
FORECAST MINUS AUGUST
2026 CBFC PRESENTATION
(D - B)
% OF
AUGUST
PROJECTION
NOTES
Transfers-In (Cost Allocation) 2,899,587 2,899,587 2,899,587 0 100% Fixed Transfer Transfers-In (Gas Tax) 246,000 246,000 246,000 0 100% Fixed Transfer Transfers-In (Community Facility
District) 473,000 473,000 473,000 0 100% Fixed Transfer Transfers-In (Measure C) 9,750,000 9,750,000 9,750,000 0 100% Fixed Transfer Transfers-In (OPEB Reimbursement) 3,442,137 3,374,826 3,374,826 -67,311 98% Assume all received Transfers-In (Econ Dev Fund) 250,000 250,000 250,000 0 100% Authorized 6/2025 Transfers-In (General Liability) 1,300,000 1,300,000 1,300,000 0 100% Authorized 6/2025 Transfers-In (Fleet Capital) 800,000 800,000 800,000 0 100% Authorized 6/2025 Transfers-In (Property Acquisition) 600,000 600,000 600,000 0 100% Authorized 6/2025 Transfers-In (238) 2,650,000 2,650,000 2,650,000 0 100% Authorized 6/2025 Transfers-In (IT) 3,137,036 0 3,004,133 -132,903 96% Pending Final Numbers Transfers In (Worker's Compensation) 4,000,000 4,000,000 4,000,000 0 100% Authorized 11/2025 Subtotal Transfer Ins 29,547,760 26,343,413 29,347,546 -200,214 99% Total Revenues & Transfers-In 239,805,259 238,510,064 242,014,197 2,208,938 101% General Fund Expenses as of 6/30/2026
• Except for CalPERS UAL, salaries and benefits same as projection presented in August. Staff will be reviewing UAL allocation. • One period of transfer was not counted in prior projection. Staff will be revisiting all transfer transactions.
Takeaways: Expenses are $320,000 lower than the August projection The projected budget shortfall of $400,000 is $2.5 million lower than the August projection
COLUMN A
COLUMN B
FY2026 PROJECTION
AS OF AUGUST CBFC
MEETING
COLUMN C
FY2026 UNAUDITED
ACTUALS POSTED THROUGH
AUGUST 31, 2026
COLUMN D
FY2026
PROJECTION AS OF
SEPTEMBER 2026
COLUMN E
SEPTEMBER 2026 FORECAST
MINUS AUGUST 2026 CBFC
PRESENTATION (D - B)
% OF AUGUST
PROJECTION NOTES
Salaries 102,280,653 101,806,815 102,280,653 0 98%
Overtime 10,071,494 10,071,233 10,071,494 0 108%
Leave Pay-Out & Special Pays Budget 10,420,276 10,409,660 10,420,276 0 158% Subtotal Salaries 122,772,423 122,287,708 122,772,423 0 100% CalPERs Retirement Costs 55,838,579 49,217,286 53,982,142 -1,856,437 101% Staff reviewing Workers' Compensation Contribution 6,581,914 6,581,915 6,581,915 1 100% OPEB | MERP | 401a 4,306,740 4,306,741 4,306,741 1 93%
FICA/Medicare 1,691,608 1,691,608 1,691,608 0 100%
Healthcare 14,942,118 14,942,118 14,942,118 0 94%
Other Benefits 663,909 663,909 663,909 0 40%
Subtotal Benefits 84,024,868 77,403,576 82,168,432 -1,856,436 98% Subtotal Salaries & Benefits 206,797,291 199,691,285 204,940,855 -1,856,436 99% Maintenance & Utilities 1,691,582 1,691,582 1,691,582 0 78% Supplies & Services 10,036,749 9,632,004 10,042,004 5,255 69% Carry Forward Internal Service Fees 22,093,539 22,093,539 22,093,539 0 100% Capital 152,998 152,998 152,998 0 44%
Subtotal Supplies & Services 33,974,868 33,570,123 33,980,123 5,255 100% Charge-Outs -8,712,911 -8,712,911 -8,712,911 0 125%
Transfers-Out 10,674,829 12,205,569 12,205,569 1,530,740 0 Total Expenditures & Transfers-Out 242,734,077 236,754,066 242,413,636 -320,441 100% Net Change in Reserve -2,928,818 1,755,998 -399,440 2,529,378 General Fund Monthly Salary Report As of 6/30/2026
No Change from August Presentation
Annual Budget excluding CalPERS UAL costs which are fixed: $163,842,537 Month Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 % of Payroll Year 7.7% 15.4% 23.1% 30.8% 42.3% 50.0% 57.7% 65.4% 73.1% 80.8% 92.3% 100.0% Straight Line Forecast 12,603,272 25,206,544 37,809,816 50,413,088 69,317,996 81,921,269 94,524,541 107,127,813 119,731,085 132,334,357 151,239,265 163,842,537 Actual Amount Spent
During Month including
UAL
15,613,676 15,784,536 16,010,803 15,943,571 23,154,956 15,683,752 15,599,308 15,063,398 14,974,311 15,172,379 21,543,724 15,146,874 UAL 2,583,637 2,692,785 2,711,713 2,750,032 4,076,444 2,734,414 2,699,880 2,686,829 2,672,263 2,664,086 3,986,033 2,558,569 Actual Payroll without
UAL
13,030,039 13,091,751 13,299,090 13,193,539 19,078,512 12,949,338 12,899,428 12,376,569 12,302,048 12,508,293 17,557,691 12,588,306 Year To Date without
UAL
13,030,039 26,121,790 39,420,880 52,614,419 71,692,931 84,642,269 97,541,697 109,918,266 122,220,314 134,728,606 152,286,297 164,874,603 % of Budget Spent 8.0% 15.9% 24.1% 32.1% 43.8% 51.7% 59.5% 67.1% 74.6% 82.2% 92.9% 100.6% (Over) Under Budget (426,767) (915,246) (1,611,064) (2,201,331) (2,374,935) (2,721,001) (3,017,157) (2,790,453) (2,489,229) (2,394,250) (1,047,032) (1,032,066) General Fund Monthly Overtime Report
No Change from August Presentation
Takeaway: Overtime was $171k over budget (2%), but much less than prior years Compared to Previous Years FY 21 FY 22 FY 23 FY 24 FY 25 FY 26
Projected
Police 3,583,144 4,216,208 5,130,300 5,749,813 7,179,172 4,479,696 Fire 6,820,206 7,439,117 7,286,285 7,615,082 8,170,285 5,282,386 Other 445,108 587,898 700,974 751,986 592,558 309,149
Total 10,848,458 12,243,223 13,117,559 14,116,881 15,942,015 10,071,231 Actuals
Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Total PD* 530,178 521,065 575,978 500,807 638,021 425,406 287,265 223,861 177,424 146,236 230,660 222,795 4,479,696 Fire* 580,009 644,260 695,547 515,940 626,229 429,262 193,256 280,891 258,588 231,848 441,384 385,172 5,282,386 Other 17,923 31,533 36,105 30,692 32,776 20,158 16,014 15,058 14,426 11,575 35,143 47,746 309,149 Total 1,128,110 1,196,858 1,307,630 1,047,439 1,297,026 874,826 496,535 519,810 450,438 389,659 707,187 655,713 10,071,231 Total Overtime Spent 10,071,231
Forecasted Overtime
JUNE 2026
9,900,000
Difference between
Forecast and Actual
171,231
Measure C Projection as of June 30, 2026
Transactions Posted Through August 31, 2026
Takeaway: Measure C Ending Balance is projected to be $20.3 Million
COLUMN B
FY2026
PROJECTION AS
OF AUGUST CBFC
MEETING
COLUMN C
FY2026 UNAUDITED
ACTUALS THROUGH
AUGUST 31, 2026
Additional
Anticipated
COLUMN D
FY2026
PROJECTION AS OF
SEPTEMBER 2026
COLUMN E SEPTEMBER
2026 FORECAST MINUS
JUNE 2026 CBFC
PRESENTATION (E - B)
Starting Balance 21,187,629 21,187,629 21,187,629 0
Measure C Sales Tax 20,814,976 21,641,447 0 21,641,447 826,471 Measure C Other Revenue 16,291 16,291
Measure C Investment Earnings 459,978 640,406 0 640,406 180,428 Measure C OPEB Reimbursement 95,629 116,315 0 116,315 20,686 Transfer In Worker's Compensation Refund 451,178 0 451,178 451,178 Transfer In La Vista Park Reversal 5,000,000 5,000,000 5,000,000 0 Total Revenue 26,370,583 22,865,637 5,000,000 27,865,637 1,478,763 Salaries and Benefits 7,513,212 7,513,212 7,513,212 0
Maintenance and Utilities 18,236 18,236 18,236 0
Supplies and Services 999,664 999,664 999,664 0
Internal Service Charges 524,719 524,719 524,719 0
Debt Service 4,382,125 4,382,125 4,382,125 0
Transfers Out 15,332,560 15,332,561 0 15,332,560 0
Total Expense 28,770,516 28,770,517 0 28,770,516 0
Net Change in Reserve - Surplus / (Shortfall) -2,399,933 -5,904,880 5,000,000 -904,879 1,478,763 Ending Balance 18,787,696 15,282,749 5,000,000 20,282,750 1,478,763 Revenue
Expense
Questions / Discussion