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The memorandum discusses the Bi-Monthly Financial Report for January/February 2026, prepared by the City Manager’s Budget Office and the Finance Department. It highlights the performance of revenues and expenditures against the 2025-2026 Budget for the first eight months of the fiscal year. The report indicates that General Fund revenues are projected to end the year approximately $1 - $4 million below budget estimates, primarily due to lower fees and interest earnings. Expenditures are expected to remain within budget, except for certain departments. The report also addresses economic conditions, construction activity, and specific revenue categories, including property tax and sales tax.
Key points
General Fund revenues through February 2026 totaled $799.0 million, 1% above the previous year.
General Fund revenue is anticipated to end the year $1 - $4 million below budget estimates.
Expenditures are expected to remain within budget, except for the Fire, Police, and Public Works Departments.
Real Property Transfer Tax revenue is performing above prior year levels.
Construction activity increased significantly, with residential permit valuation up 127.5% from the prior year.
The local unemployment rate for January 2026 was 4.3%, consistent with the prior year.
Limitations
The document appears to be a draft as it includes placeholder sections and incomplete information.
Specific dates and figures are mentioned but not fully detailed in the extracted text.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 72,652 chars
PSFSS COMMITTEE AGENDA: FILE: TO: PUBLIC SAFETY, FINANCE, AND STRATEGIC SUPPORT COMMITTEE FROM: Jim Shannon SUBJECT: Bi-Monthly Financial Report For January/February 2026 DATE: April 6, 2026 Approved 4/16/26 (c)1 Date: April 8, 2026 RECOMMENDATION Accept the Bi-Monthly Financial Report on actual revenues and expenditures as compared to the 2025-2026 Budget for the eight months ending February 2026. OVERVIEW The Bi-Monthly Financial Report for January/February 2026 was jointly prepared by the City Manager’s Budget Office and the Finance Department. The City Manager’s Budget Office has analyzed actual expenditures as compared to the 2025-2026 Modified Budget and the Finance Department has prepared a report that reflects the financial results for the eight months ending February 2026. Through the first eight months of the fiscal year, revenues and expenditures were generally performing within the anticipated levels in the majority of City funds. The Administration will continue to closely monitor economic conditions and the performance in all City funds, bringing forward budget adjustments, as appropriate, to the City Council during the year as appropriate. The following are key...
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The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
This document is a Monthly Financial Report from the Finance Department of the City of San José, detailing financial results for the month ended February 28, 2026, for the fiscal year 2025-2026. The report includes comparisons of cash balances, revenues, and expenditures for the General Fund and other funds, as well as supplemental schedules of departmental revenues. The report is marked as unaudited.
Key points
The report covers financial results for February 2026.
It includes comparisons of current year-to-date revenues and expenditures against prior year-to-date figures.
The report features various funds including the General Fund, Airport Revenue Fund, and WPCP Operation Fund.
It provides detailed tables and figures related to cash balances, revenues, and expenditures.
Limitations
The document is marked as unaudited.
There are unresolved placeholders and truncated sections that may affect the completeness of the summary.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 28,706 chars
Attachment FINANCE DEPARTMENT Monthly Financial Report Financial Results for the Month Ended February 28, 2026 Fiscal Year 2025-2026 (UNAUDITED) Finance Department, City of San José Monthly Financial Report Financial Results for the Month Ended February 28, 2026 Fiscal Year 2025-2026 (UNAUDITED) Table of Contents Page Reference General Fund Comparison of Current Year's Monthly Cash Balance vs. Prior Year’s Balance......................................……………………………………….… 1 Comparison of Current Year-to-Date Revenues vs. Prior Year-to-Date Revenues……….........................….……………………………… 2 Comparison of Current Year-to-Date Expenditures vs. Prior Year-to-Date Expenditures……….……………………...................…….……… 2 Comparison of Current Year-to-Date Revenues for Major Revenue Sources vs. Prior Year-to-Date Revenues……….................................................…………… 3 Comparison of Current Year-to-Date Expenditures by Type vs. Prior Year-to-Date Expenditures .……..............……………………...…………… Source and Use of Funds.............................………………………………………………… Supplemental Schedule of Departmental Revenues.......................……………………… 3 4 7 Other Funds Special Funds...