Finance Committee - September 15, 2026

The City of Santa Barbara Finance Committee convened on September 15, 2026, to review the fourth quarter financial status for fiscal year 2026. The meeting focused extensively on the city's general fund and eight enterprise funds, highlighting revenue and expenditure performance, budget adjustments, and staffing changes. Key procurement-related discussions included the approval of budget amendments related to capital improvement projects funded by Measure C, and the introduction of new and reclassified city positions to support programs such as rental housing and parks planning. The committee also discussed ongoing efforts to increase revenues through tax compliance audits and enforcement programs, as well as expenditure controls including vacancy management. Additionally, the committee reviewed a proposed $1 million loan from federal HOME funds to support a $34.7 million affordable housing project at Parma Court, which includes a 30-year loan term at 3% interest and a 90-year affordability covenant. The meeting concluded with unanimous approval of the budget adjustments and staffing proposals, underscoring the city's focus on fiscal sustainability and strategic capital investments.