City Council Agenda
Memo to:
Manteca City Council
From:
Matthew Boring, Interim Finance Director
Prepared by:
Lana McBroom, Budget Manager
Date:
October 21, 2025
Subject:
Fiscal Year 2025-26 First Quarter Budget Update and Financial Performance Summary - period ending September 30, 2025
Recommendation:
title
Receive and file Fiscal Year 2025-26 First Quarter Budget Update and Financial Performance Summary for the period ending September 30, 2025.
body
Background:
The attached Fiscal Year 2025-26 (FY26) Budget by Account Classification Report provides a summary of revenues and expenditures through the first quarter, ending September 30, 2025. Year-to-date actuals are compared to both the adopted budget and prior-year actuals for the same period.
Many revenue and expenditure transactions occur at uneven intervals throughout the year, and quarterly results should be interpreted with consideration of cash flow timing. Revenues are reported when cash is received, and expenditures are reported when payments are made, except at fiscal year-end when accruals are recorded in accordance with accounting standards. For example, while operating expenditures tend to occur evenly throughout the year, major revenues such as property taxes are received primarily in the second and fourth quarters.
It is also important to note that the amended FY26 budget includes capital outlay and improvement project carryforwards from prior years. These represent previously approved funding for ongoing projects and do not reflect new spending. While included in the total budget, carryforwards are tied to specific funding sources and do not affect the City's structurally balanced budget position.
As of the close of Q1, the City's overall financial performance remains consistent with budget projections, with both revenues and expenditures tracking within expected ranges. The attached Budget Performance Summary provides a high-level overview of key financial metrics and fund a...
Click here for full text