FY 2026 Financial Policies and Council Budget Guidelines

Summary

The FY 2026 Financial Policies and Council Budget Guidelines is a topic governing the financial rules and budget preparation parameters for the City's FY 2026 budget cycle. The item was first discussed at the October 22, 2024 work session, where CFO J.C. Martinez verbally reported on the suggested updates, noting no changes were being proposed to the existing financial policies. Following that work session discussion, the item was placed on the consent agenda for the November 12, 2024 City Council meeting, where it was pulled for further discussion before being approved unanimously (6-0) after a staff presentation by CFO Martinez. Council formally adopted the presented financial policies and budget guidelines for use in preparing the FY 2026 budget. No proposed changes to existing policies were noted at either the work session or the adoption meeting.