October 12, 2026 - Finance Committee Meeting

The City of Tracy Finance Committee met on October 12, 2026. It received an informational FY 2025–26 third- and fourth-quarter Treasurer’s Report, which cited a portfolio market value of approximately $667 million and $24.4 million in interest earned during the fiscal year. The committee also recommended that the City Council authorize $4,613,946 in interfund borrowing and accept $950,000 in federal Transportation Improvement Program funding—a total appropriation of $5,563,946—for the Interstate 580 Patterson Pass Road/International Parkway Diverging Diamond Interchange Improvements Project (CIP 73147). The project is under construction and about 60% complete; its estimated cost is approximately $67.47 million, with the additional funding addressing increased costs and anticipated contingencies. The proposed interfund loan is for 20 years, with repayment beginning in FY 2027–28.

The committee also recommended a FY 2026–27 first-quarter budget amendment reflecting approximately $18.6 million in augmentations, with no General Fund impact. These included about $18.5 million from collected water impact fees for four water infrastructure projects; $58,000 from asset forfeiture funds for a replacement police canine vehicle; and approximately $60,000 in grant-supported funding for six electric bicycles. Public Works also proposed a net-zero transfer of previously appropriated pavement-project funds. Finally, the committee recommended adopting a pension liability management policy that formalizes funding targets and existing practices, including annual review of potential surplus allocations toward CalPERS liabilities. Motions on the agenda items were seconded and approved.