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Third (Mid-Year) Financial Status Report / Fiscal Year 2025-26

Council File 25-0600-S133

Introduced
2026-02-27
Last changed
2026-05-11
Status
closed
Expires
2028-04-29
Mover
BOB BLUMENFIELD
Second
EUNISSES HERNANDEZ
Initiated by
City Administrative Officer
References
City Administrative Officer Report: 0590-00098-5325

Brief

The City Administrative Officer submitted the third mid-year financial status report for FY 2025-26, tracking the city's fiscal health and budget execution halfway through the fiscal year. Moved by Councilmember Bob Blumenfield and seconded by Eunisses Hernandez, the report was considered by the Budget and Finance Committee in early March, then adopted by Council on March 25 as amended by five motions, and again on April 29. The file was transmitted to the Mayor in late April and became final in May 2026.

Full summary

The City Administrative Officer's third mid-year financial status report for fiscal year 2025-26 identifies $209.44 million in projected over-expenditures citywide and recommends roughly $322.40 million in transfers, appropriations, and other budgetary adjustments to bring departmental spending back into balance. The CAO presented the report to the Budget and Finance Committee on March 3, 2026, where department representatives answered questions about their funding requests. The committee approved the report unanimously and added one amendment: a transfer of $680,000 from the General City Purposes Fund's Operation Safe Streets Initiative account to the Capital Technology Improvement Expenditure Program Fund for engineering and design work on the Dirt Mulholland project, a motion introduced by Councilmember Blumenfield. When the full Council took up the item on March 25, 2026, it adopted the report as amended and added five further floor amendments. Motion 46A, by Councilmember Katy Yaroslavsky, transferred $25,000 from CD 5 redevelopment funds to the CD 5 Additional Homeless Services account to align with actual spending. Motion 46C, presented by Yaroslavsky on behalf of Blumenfield, shifted $32,398 from CD 3 redevelopment funds to General Services accounts for construction labor and materials at the Canoga Park Youth Arts Center. Motion 46D, also on behalf of Blumenfield, moved $355,000 from CD 3 redevelopment funds to the Cultural Affairs Department Trust Fund for renovations and furnishings at the Madrid Theater. The documents available do not detail the substance of Motions 46B and 46E. A separate procedural motion by Councilmembers Adrin Nazarian and Ysabel Jurado called for a standalone vote on the CAO's recommendation to transfer $2.2 million from the Unappropriated Balance reserve to the Outside Counsel account to cover projected legal spending overruns, signaling some members wanted to scrutinize that particular appropriation independently. The full package was adopted urgently on March 25 and transmitted to the Mayor. The Council acted again on April 29, voting 13-0-2 to adopt a follow-on motion related to the same file, and the Mayor completed action by May 11, 2026, closing the file.

Activity (13)

  • 2026-05-11 Council action final.
  • 2026-05-01 City Clerk transmitted file to Mayor. Last day for Mayor to act is May 11, 2026.
  • 2026-04-29 Council adopted item, subject to reconsideration, pursuant to Council Rule 51.
  • 2026-04-24 City Clerk scheduled item for Council on April 29, 2026.
  • 2026-04-22 Motion referred to Council.
  • 2026-03-27 Council action final.
  • 2026-03-25 City Clerk transmitted file to Mayor. Last day for Mayor to act is April 6, 2026.
  • 2026-03-25 Council adopted item as amended by Motions 46A, 46B, 46C, 46D and 46E, urgent forthwith.
  • 2026-03-20 City Clerk scheduled item for Council on March 25, 2026.
  • 2026-03-03 Budget and Finance Committee approved as amended .
  • 2026-02-27 Budget and Finance Committee scheduled item for committee meeting on March 3, 2026.
  • 2026-02-27 City Administrative Officer document(s) referred to Budget and Finance Committee.
  • 2026-02-27 Document submitted by City Administrative Officer, dated February 27, 2026.

Documents (14)

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