CITY OF SANGER
OPERATING BUDGET ∙ FISCAL YEAR 2026-2027
U.S. Treasury Securities
United States Treasury notes, bonds, bills or certificates of indebtedness, or those for which the full faith and credit of the United State are pledged for the payment of principal and interest.
Maximum Maturity 5 years
Investment Participation 100%
Federal Agencies Securities
Obligations issued by Federal Government agencies and Government Sponsored Enterprises (U.S.
Instrumentalities) such as the Federal Farm Credit Bank (FFCB), the Federal Home Loan Bank (FHLB), the Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corporation (FHLMC) and other similar securities. Such securities are obligations of the agencies themselves, but there is also an implied guarantee by the United States Government.
Maximum Maturity 5 years
Investment Participation 100%
Certificates of Deposit
Issued by commercial banks and credit unions with federal deposit insurance available for amounts up to $250,000. Financial institutions must provide collateral for deposits over $250,000.
Maximum Maturity 5 Years
Investment Participation 30%
Negotiable Certificates of Deposit
Issued by commercial banks and credit unions with federal deposit insurance available for amounts up to $250,000.
Maximum Maturity 5 years
Investment Participation 30%
Local Agency Investment Fund (LAIF)
The Local Agency Investment Fund (LAIF) is a special fund in the California State Treasury created and governed pursuant to Government Code Sections 16429.1 et seq. It is a pooled investment fund managed by the State Treasurer’s office for the exclusive benefit of governmental entities within California. Principal amount withdrawal of $15 million or greater need 24-hour notice and less than $15 million may be withdrawn the same day.
Maximum Maturity N/A
Investment Participation Maximum allowed by LAIF
PAGE
63
CITY OF SANGER
OPERATING BUDGET ∙ FISCAL YEAR 2026-2027
Local Agency Investment Pool (LAIP)
Shares of beneficial interest issued by a joint powers authority organized pursuant to CA Code (Section 6509.7) that invests in the securities and obligations in compliance with CA Code 53601 (subsection ‘a’ to ‘r’, inclusive) are also authorized. Each sha re shall represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. To be eligible under this section, the joint powers authority issuing the shares shall have retained an investment adviser that meets all of the following criteria:
• The adviser is registered or exempt from registration with the Securities and Exchange Commission. • The adviser has not less than five years of experience investing in the securities and obligations authorized in CA Code (subsection ‘a’ to ‘r’, inclusive).
• The adviser has assets under management in excess of five hundred million dollars ($500,000,000).
Maximum Maturity N/A
Investment Participation N/A
Medium –Term Corporate Notes
Medium Term Notes of a maximum of five years maturity issued by corporations organized and operating with the United States or by depository institutions licensed by the United States or any states and operating within the United States. A rating agency mu st rate notes eligible for investment “AAA” or “AA .” If the credit rating of the security falls below the “A” grade, it must be sold and removed from the city portfolio.
Maximum Maturity 5 years
Investment Participation 30%
Program to Encourage Local Development
To encourage local economic development, local financial institutions will be utilized to provide investment products for a portion of the city’s portfolio. Such products will not necessarily result in maximum earnings for the portfolio. However, the loss of short-term investment yields may be offset by the potential expansion of the tax base. Local financial institutions eligible for participation in this program are defined as any financial institution whose deposits are insured by the Federal Deposit Ins urance Corporation (for commercial and savings banks), Savings Association Insurance Fund (for savings and loans associations) and the National Credit Union Share Insurance Fund (for credit unions) and organized and chartered under the laws of the United S tates or the State of California. Local institutions shall mean any financial institution headquartered in Fresno County or any financial institution with a full-service branch in Fresno County. The institution shall be able to collateralize the city funds in accordance with California Government Code Section 53652.
Internal Controls
A system of internal controls will be maintained to assure compliance with Federal and State regulations, city council direction, and prudent cash management procedures. There will be an annual audit conducted by an independent outside auditing firm to ensure compliance with all regulations and the investment policy of the city.
Statement of Investment Policy
The City of Sanger’s investment policy shall be adopted by resolution of the City Council. The policy shall be reviewed annually by the City Council and they must approve any modifications.
PAGE
64
CITY OF SANGER
OPERATING BUDGET ∙ FISCAL YEAR 2026-2027
Allocation of Interest
Schedule “A”
1. General Fund
2. Gas Tax Funds (2106, 2107, 2107.5 and 2105)
3. Transportation Development Act Funds (Articles III and VIII)
4. Public Safety Sales Tax Funds
5. Redevelopment Agency Funds
6. Sewer Operations Fund
7. Water Operations Fund
8. Disposal Operation Fund
9. Ambulance Operations Fund
10. Developers Fee Fund
11. Risk Management Fund
12. ISTEA Fund
13. Federal and State Grant Funds
PAGE
65
Prepared by: Virginia Harmon Approved by: Nathan Olson REVIEW: City Manager: ______ Finance: __VH___ City Attorney:
TYPE OF ITEM: COUNCIL ACTION: APPROVED DENIED NO ACTION ____ Consent
____ Info Item
X Action Item
Department Report
____ Redevelopment Agency
__X_ Public Hearing
____ Matter Initiated by a Council Member
____ Other
____ Continued to: __________
For the Meeting of: June 18,
2026 Agenda Item No.: G-3
SA
NGER HOUSING AUTHORITY
REPORT TO THE BOARD OF DIRECTORS
To: Mayor and Council Members
From: Virginia Harmon, Finance Director
Subject: Sanger Housing Authority Operating Budget for Fiscal Year 2026-2027 CONF
LICT OF INTEREST:
None
known
RECO
MMENDATION:
Tha
t the Board of Directors adopts Resolution No. 2026-01 approving the Sanger Housing Authority Budget for Fiscal Year 2026-2027.
EXE
CUTIVE SUMMARY:
The
Sanger Housing Authority’s budget was developed as an integral component of the City of Sanger’s Operating and Capital Improvement Budget.
BACK
GROUND:
Th
e Sanger Housing Authority Proposed Budget reflects estimates of revenues and expenditures required to provide services to the residents of Sanger. The Authority’s budget is developed as a part of the City of Sanger’s operating and Capital improvement budget for each fiscal year. The Authority’s budget does not reflect any debt to be incurred during the coming fiscal year.
REAS
ON FOR RECOMMENDATION:
Adopti
on of the Proposed Budget for fiscal year 2026-2027 will authorize the City to administer the budget starting July 1, 2026.
FISCAL IMPACT:
The Adopted budget is the financial blueprint for the next fiscal year and is an integral part of prudent financial management. The Sanger Housing Authority’s accounting and budgetary records are reflected in Fund 486.
ALTERNATIVES:
None.
ACTIONS FOLLOWING APPROVAL:
City staff will input into the City’s financial software in order to ensure expenditures are within the appropriated amounts.
RESOLUTION NO. 2026-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SANGER HOUSING AUTHORITY
APPROVING THE SANGER HOUSING AUTHORITY
BUDGET FOR THE FISCAL YEAR 2026-2027
WHEREAS, in accordance with City Code Section 2.8g; the City Manager submitted for consideration of the Council of the City of Sanger a proposed City Operating Budget and City Capital Improvement Budget for the City Fiscal Year 2026-2027 including therein the Operating and Capital Improvement Budget of the Sanger Housing Authority; and
WHEREAS, a public hearing on said budget was duly scheduled, and held, and all persons were given the opportunity to be heard and their suggestions or objections carefully considered.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SANGER HOUSING AUTHORITY HEREBY RESOLVES AS FOLLOWS:
The Board has reviewed the proposed Operating Budget and Capital Improvement Budget and the funds included therein for the period of July 1, 2026 through June 30, 2027 and hereby find that this budget is a sound plan for the financing required during Fiscal Year 2026-2027 for required operations, services and capital improvements. This budget is hereby adopted.
Sanger Housing Authority
Total Expenditures $ 56,806
Total Revenues $ 18,283
*************************************************
The foregoing Resolution was considered by the Board of Directors of the Sanger Housing Authority at a regularly scheduled meeting of said Board held on the 18th day of June 2026 and approved by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
__________________________________
Lina Martinez, City Clerk
Prepared by: Virginia Harmon Approved by:
REVIEW: City Manager: ____ Finance: _VH___ City Attorney:
TYPE OF ITEM: COUNCIL ACTION: APPROVED DENIED NO ACTION ____ Consent
____ Info Item
X Action Item
Department Report
____ Redevelopment Agency
__X_ Public Hearing
____ Matter Initiated by a Council Member
____ Other
____ Continued to: __________
For the Meeting of: June 1 8, 2026
Agenda Item No.: G-4
SA
NGER FINANCING AUTHORITY
REPORT TO THE BOARD OF DIRECTORS
To: Mayor and Council Members
From: Virginia Harmon, Finance Director
Subject: Sanger Financing Authority Operating Budget for Fiscal Year 2026-2027 CONF
LICT OF INTEREST:
None
known.
RECO
MMENDATION:
Tha
t the Board of Directors adopt Resolution No. 26-01 approving the Sanger Financing Authority Budget for Fiscal Year 2026-2027.
EXE
CUTIVE SUMMARY:
Th
e Sanger Financing Authority (the Authority) budget was developed as an integral component of the City of Sanger’s Operating and Capital Improvement Budget.
BACK
GROUND:
Th
e Sanger Financing Authority Proposed Budget reflects estimates of revenues and expenditures required to make its debt service payments. The Authority’s budget is developed as part of the City of Sanger’s operating and Capital improvement budget for each fiscal year. The budget includes debt service and related activities for CalPERS Unfunded Accrued Liabilities Bonds, the 2023 Lease Revenue Refunding Bonds, and the Fire Station Remodel Bonds. Although the Authority has oversight over and reports financial balances and activities for the 2023 Water Revenue Refunding Bonds, the 2023 Subordinate Wastewater Revenue Refunding Bonds, and the 2023 Wastewater Revenue Refunding Bonds, those budgets are included in the appropriate enterprise funds.
REAS
ON FOR RECOMMENDATION:
Adoption of the Proposed Budget for fiscal year 2026-2027 will authorize the City to administer the budget starting July 1, 2026.
FISCAL IMPACT:
The Adopted budget is the financial blueprint for the next fiscal year and is an integral part of prudent financial management. The Sanger Financing Authority’s accounting and budgetary records are reflected in Fund 487.
ALTERNATIVES:
None.
ACTIONS FOLLOWING APPROVAL:
City staff will input into the City’s financial software to ensure expenditures are within the appropriated amounts.
RESOLUTION NO. 26-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SANGER FINANCING AUTHORITY
APPROVING THE SANGER FINANCING AUTHORITY
BUDGET FOR THE FISCAL YEAR 2026-2027
WHEREAS, in accordance with City Code Section 2.8g; the City Manager submitted for consideration of the Council of the City of Sanger a proposed City Operating Budget and City Capital Improvement Budget for the City Fiscal Year 2026-2027 including therein the Operating and Capital Improvement Budget of the Sanger Public Financing Authority and,
WHEREAS, a public meeting on said budget was duly scheduled, and held, and all persons were given the opportunity to be heard and their suggestions or objections carefully considered.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SANGER PUBLIC FINANCING AUTHORITY HEREBY RESOLVES AS FOLLOWS:
The Board has reviewed the proposed Operating Budget and Capital Improvement Budget and the funds included therein for the period of July 1, 20 26 through June 30, 2027 and hereby find that this budget is a sound plan for the financing required during Fiscal Year 2026-2027 for required operations, services and capital improvements. This budget is hereby adopted.
Sanger Financing Authority
Debt Service
Bond Interest $ 0
Total Budget $50,000
Total Revenues $ 0
***************************************************
The foregoing Resolution was considered by the Board of Directors of the Sanger Public Financing Authority at a regularly scheduled meeting of said Board held on the 18 th day of June 2026 approved
by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
__________________________________
Lina Martinez, City Clerk
Prepared by: Virginia Harmon Approved by:
REVIEW: City Manager: ______ Finance: ___VH__ City Attorney:
TYPE OF ITEM: COUNCIL ACTION: APPROVED DENIED NO ACTION ____ Consent
____ Info Item
X Action Item
Department Report
____ Redevelopment Agency
__X_ Public Hearing
____ Matter Initiated by a Council Member
____ Other
____ Continued to: __________
For the Meeting of: June 18, 2026
Age
nda Item No.: G-5
CIT
Y OF SANGER AS SUCCESSOR
AGENCY TO THE SANGER
REDEVELOPMENT AGENCY
REPORT TO THE BOARD OF DIRECTORS
To: Chairman and Board Members
From: Virginia Harmon, Finance Director
Subject: Sanger Successor Agency Operating Budget for Fiscal Year 2026-2027 CONFL
ICT OF INTEREST:
None know
n
RECOM
MENDATION:
That
the City of Sanger as Successor Agency to the Sanger Redevelopment Agency adopts Resolution No. 26-01 approving the City of Sanger Successor Agency Budget for Fiscal Year 2026-2027.
EXECUT
IVE SUMMARY:
The C
ity of Sanger as Successor Agency to the Sanger Redevelopment Agency’s budget was developed as an integral component of the City of Sanger’s Operating and Capital Improvement Budget.
BACKG
ROUND:
The
Successor Agency Proposed Budget reflects the estimates of revenues and expenditures required for the enforceable obligations of the former Sanger Redevelopment Agency. The budget was developed as part of the City of Sanger’s operating and Capital improvement budget for the fiscal year.
The
city is in the process of unwinding the Successor Agency. The final steps will be to (1) finalize the disposition of remaining redevelopment properties and (2) work with the Department of Finance to ensure the Agency has completed all necessary steps to shut down the Successor Agency.
REASO
N FOR RECOMMENDATION:
Adoption of the Proposed Budget for F iscal Year 2026-2027 will authorize the City to administer the budget starting July 1, 2026.
FISCAL IMPACT:
The Adopted budget is the financial blueprint for the next fiscal year and is an integral part of prudent financial management. The City of Sanger as Successor Agency to the Sanger Redevelopment Agency’s accounting and budgetary records are reflected in Fund 381.
ALTERNATIVES:
None
ACTIONS FOLLOWING APPROVAL:
City staff will input into the City’s financial software to ensure expenditures are within the appropriated amounts.
RESOLUTION NO. 26-01
A RESOLUTION OF THE CITY OF SANGER AS SUCCESSOR AGENCY TO THE SANGER
REDEVELOPMENT AGENCY, ADOPTING THE OPERATING
BUDGET FOR FISCAL YEAR 2026-2027
WHEREAS, in accordance with City Code Section 2.8g the City Manager submitted for consideration of the City Council of the City of Sanger a proposed City Operating Budget and City Capital Improve ment Budget for fiscal year 2026-2027 including therein the Operating Budget of the Successor Agency; and
WHEREAS, a public hearing on said budget was duly scheduled, and held and all persons were given the opportunity to be heard and their suggestions and objections carefully considered; and
WHEREAS, the said Proposed Operating Budget contains estimates of the services, activities and projects comprising the budget, and contains expenditure requirements and the resources available to the Successor Agency; and
WHEREAS, the Successor Agency has taken the necessary public actions per State Law known as AB 1X26 to ensure that the Successor Agency receives sufficient revenues to finance said Proposed Budget.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF SANGER AS SUCCESSOR AGENCY AS FOLLOWS:
The Proposed Operating Budget is hereby approved and adopted as part of the Annual Operating Budget of the Successor Agency to the Sanger Redevelopment Agency for the Fiscal Year 2026- 2027.
******************************
The foregoing Resolution was considered by the City of Sanger as Successor Agency to the Sanger Redevelopment Agency at a regularly scheduled meeting of said Agency held on the 18th day of June 2026 and approved by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
__________________________________
Lina Martinez, City Clerk