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 First Quarter Financial Status Report and Proposed Budget Adjustments
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RECOMMENDATION
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Amend the Fiscal Year 2025/26 Operating Budget and approve the First Quarter Proposed Budget Adjustments as referenced in the Fiscal Impact statement;
Amend the Fiscal Year 2025/26 Capital Improvement Plan (CIP) budget to establish budget appropriations for Capital Improvement Project Nos. 08303, 13058, 22035, and 22036 as detailed in the Fiscal Impact statement;
Approve the use of Assigned Fund Balance for the Fire Fund and establish expenditures budget as allowed in the AMR Enhancement Fee Agreement; and
Approve the updated Schedule of Authorized Positions list.
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PRIOR ACTION/VOTE
On June 3, 2025, the City Council, the Boards of Directors of the Murrieta Fire District, the Community Services District, the Murrieta Library District, the Housing Authority, and the City Council acting as Successor to the Redevelopment Agency, 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 FY 2025/26 and 2026/27 (Vote: 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
DISCUSSION
The City of Murrieta (City) adopts a biennial budget every two years, starting in odd-numbered years. The budget period runs from July 1 to June 30. The Government Finance Officers Association (GFOA) recommends that all governments implement a formal process to compare the budget to actual results to monitor financial performance. To comply with these best practices, staff prepares quarterly budget reports for the City Council to review and consider. These reports ensure transparency and provide st...
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