City Council 2 17 26 Agenda Item N 2 FY 2025 26 Budget Mid Year Review Presentation

The City of Oxnard City Council conducted a mid-year budget review for fiscal year 2025-2026, focusing on revenue and expenditure projections across multiple funds including the general fund, water and wastewater funds, golf operating fund, and various special districts. Key discussions included budget amendments to address increased liability costs, pension contributions, and capital needs such as equipment replacement and infrastructure projects. The council approved adjustments to fund balances and appropriations to ensure fiscal stability, with particular attention to managing rising costs in utilities and long-term liabilities. Additionally, the council approved the addition of the environmental resources rollup door replacement project to the fiscal year budget process, aiming for adoption by June 2026.