1 TO: City Council
FROM: Andrew Vialpando, City Manager
PREPARED BY: Susan Kamada, Deputy City Manager/Administrative Services Director
MEETING DATE: April 21, 2026
SUBJECT: Fiscal Year (FY) 2025/26 Quarterly Financial Report
RECOMMENDED ACTION
Receive and file the Fiscal Year (FY) 2025/26 Quarterly Financial Report Third Quarter Ending March 31, 2026.
BACKGROUND
This financial report summarizes the City’s financial position for the quarter ending March 31, 2026, for the General Fund, Water Funds, and Special Revenue Funds. The purpose of this report is to provide City Council, City management, and the Lomita community with a transparent update on the City’s fiscal status based on the most recent financial information available.
The City operates on an annual budget cycle. Through the budget, the City Council approves revenue estimates and authorizes City staff to expend the City’s limited financial resources. As one of the many activities that the City undertakes to help ensure its financial soundness, staff provides quarterly financial reports on the City’s budget condition.
VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No. 6: High Performing Organization – Strengthening City services through innovation and excellence.
CITY OF LOMITA
CITY COUNCIL REPORT
Item No. 7e
2 OPTIONS:
None. Information only. Receive and file.
FISCAL IMPACT
None. Information only. Receive and file.
ATTACHMENT
1. FY 2025/26 Quarterly Financial Report Third Quarter Ending March 31, 2026.
Approved by:
Andrew Vialpando
City Manager
Prepared by:
Susan Kamada
Deputy City Manager / Administrative Services Director