4.23.2026 Finance, Audit, and Budget Subcommittee Special Meeting

The City of Ventura Finance, Audit, and Budget Subcommittee held a special meeting on April 23, 2026, focusing primarily on financial reporting and the proposed fiscal year 2027 operating and capital improvement budget. Key procurement-related discussions included the presentation of the local agency developer improvement fee report for fiscal year ending June 30, 2025, which detailed compliance with state laws governing development impact fees and the Quimby Act. The report highlighted the status of various developer fees, their balances, and intended uses for infrastructure projects such as park development and traffic mitigation. The committee also reviewed the proposed FY2027 budget totaling $516.2 million, with significant allocations toward capital improvement projects including water purification facilities, road extensions, and public safety facilities. Discussions addressed funding sources, including Measure O transaction taxes, and the balancing of expenditures with revenues. Members inquired about potential procurement opportunities such as purchasing new street paving equipment and funding for community programs, with staff noting budget constraints and the need for prioritization. The meeting concluded with a unanimous vote to receive the proposed budget and plans for further budget workshops and public hearings.