City Council 06 17 2025 Agenda Item M 3 Adoption FY 2025 26 Proposed Budget

The City Council of Oxnard held a meeting to discuss and adopt the proposed fiscal year 2025-26 budget. The council reviewed resolutions approving the operating and capital improvement budgets, authorizing full-time equivalent positions, and establishing salary schedules and a master fee schedule. The budget presentation highlighted a balanced general fund, with overall city revenues projected at $594 million and expenditures at $661 million, including significant funding for capital improvement projects supported by state revolving fund loans. Key enterprise funds such as water, wastewater, and environmental resources were detailed, showing adjustments in revenues, expenditures, and fund balances, with some funds utilizing reserves to support operations and capital needs. The council also noted decreases in grant revenues and long-term debt payments compared to the previous fiscal year. The meeting emphasized fiscal management, resource allocation, and maintaining reserve targets to ensure financial stability for the city.