TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Tanner Benson, Financial Analyst
SUBJECT:
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Fiscal Year 2025/26 Third Quarter Financial Status Report and Proposed Budget Adjustments
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ABSTRACT
This Third Quarter Budget Update reports on Fiscal Year 2025/26 through March 31, 2026, and requests approval of budget adjustments. General Fund and Measure T revenues are tracking as expected, and expenditures are near the quarter mark, reflecting approved staffing updates and early capital outlay activity. Staff recommends targeted budget amendments to align revenues and expenditures with actual activity and updated projections. Overall, the budget is tracking largely as planned.
RECOMMENDATION
recommendation
Receive and file the report; and
Approve the adjustments to the Fiscal Year 2025/26 Operating Budget as referenced in the Fiscal Impact section of this report.
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PRIOR ACTION/VOTE
On June 3, 2025, the City Council, the Boards of Directors of the Murrieta Fire District (MFD), the Community Services District (CSD), the Murrieta Library District (MLD), the Housing Authority (HA), and the City Council acting as Successor to the Redevelopment Agency (SA), adopted a joint Resolution (25-4837, MFD 25-225, CSD 25-285, MLB 25-201, RSA 25-35, and MHA 25-45) approving the Operating Budgets for Fiscal Years 2025/26 and 2026/27 (Vote: 5-0).
Subsequently, the City Council, the Boards of Directors of the MFD, CSD, MLD, SA, and the HA approved amendments to the Fiscal Year 2025/26 Operating Budget on December 2, 2025, and March 3, 2026 (Vote: 5-0).
STRATEGIC ALIGNMENT
This item aligns with the City Council goal of: maintaining a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency relating to an administrative priority.
DISCUSSION
The City of Murrieta (City) adopts a biennial budget every two years, starting in odd-numbe...
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