title
Approve Financial Statements for the 4th Quarter Ended June 30, 2025
recommendation
That the City Council:
1. Receive and file the financial statements for the 4th quarter ended June 30, 2025; and
2. Approve Fiscal Year 2024-25 Budget Adjustments outlined in the attached Exhibit A; and
3. Appropriate the following Fiscal Year 2025-26 Expenditures:
a. Appropriate $1,000,000 transfer into the General Fund from the Pension Trust (PARS), to supplement surplus General Fund Balance for an Additional Discretionary Payment (ADP) towards the CalPERS Pension Unfunded Liability.
b. Appropriate $4,000,000 ADP towards the CalPERS Pension Unfunded Liability from surplus General Fund Balance.
c. Appropriate $2,000,000 of the year-end General Fund surplus to the Fire Facility Acquisition Fund, to pay back a portion of the $5 million advance from this Fund to make an ADP in FY 2025-26.