City Council Agenda
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Memo to: |
Manteca City Council |
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From: |
Matthew Boring, Finance Director |
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Prepared by: |
Lana McBroom, Budget Manager |
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Date: |
May 12, 2026 |
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Subject: |
Fiscal Year 2025-2026 Q3 Budget Performance Summary Report - period ending March 31, 2026 |
Recommendation:
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Receive and file Fiscal Year 2025-2026 Quarter 3 Budget Performance Summary Report by Fund for the period ending March 31, 2026, and adopt a resolution approving Fiscal Year 2025-2026 Quarter 3 Budget Amendments.
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Background:
The attached Fiscal Year 2025-2026 (FY26) Budget Performance Report provides revenues and expenditures through Quarter 3 (Q3), for the period ending March 31, 2026. Year-to-date actuals are compared to budget and prior year actuals for the same time frame. Revenues are recognized when cash is received, and expenditures are recorded when payments are made, except at fiscal year-end when accruals are applied in accordance with accounting standards.
Many revenues and expenditures do not occur evenly throughout the fiscal year. While operating expenditures tend to be relatively consistent, major revenues such as property taxes and capital expenditures are more timing-dependent. As a result, performance should be evaluated with consideration of cash flow timing.
The amended FY26 budget includes capital outlay and improvement carryforwards from prior years. These represent previously approved, assigned funds for ongoing projects and do not constitute new spending. While included in budget totals, these carryforwards are tied to specific funding sources and do not impact the structural balance of the budget.
The attached Budget Performance Summary provides a high-level overview of key revenue and expenditure trends, including major fund activity.
Staff is also recommending a few appropriation changes, based on analysis of the Q3 report. Recommended appropriation changes include $7.35 million in revenue appropriations and $7.16 expenditure appropriations.
Fiscal Impact:
The recommended appropriation changes increase overall revenue by $7.35 million and expenditures by $7.16 million. A table showing the recommended appropriation changes is included below, and more details are included in Attachment 2.
Documents Attached:
1. Attachment 1 - Resolution
2. Attachment 2 - Exhibit “A” to Resolution
3. Attachment 3 - Budget by Account Classification Report - Fiscal Year 2025-26 Q3
4. Attachment 4 - Budget Performance Summary - Fiscal Year 2025-26 Q3