title
Approve Financial Statements for the 4th Quarter Ended June 30, 2026
recommendation
That the City Council:
1. Receive and file financial the statements for the 4th quarter ended June 30, 2026; and
2. Approve Fiscal Year 2025-26 Budget Adjustments outlined in the attached Exhibit A, which reflect additional appropriations to cover minor budget shortfalls and budget adjustments necessary to re-allocate funding between capital projects to unencumber Quimby revenue to pay the $1,314,508.50 Solana-Winchester settlement agreement; and
3. Appropriate the following Fiscal Year 2026-27 Expenditures:
a. Appropriate $2,000,000 of the Fiscal Year 2025-26 year-end General Fund surplus to the City Attorney’s Legal Services account to support litigation efforts against SDG&E’s Golden Pacific Powerlink Project.
b. Appropriate $1,000,000 of the Fiscal Year 2025-26 year-end General Fund surplus to the Fire Facility Acquisition Fund, accelerate the payback of the $5 million advance from this Fund to pay down the City’s pension liabilities, leaving a balance due of $1,000,000 which is budgeted to be paid in Fiscal Year 2026-27.