Oxnard—The City Council, on Tuesday, June 2, held a public hearing for the proposed Fiscal Year (FY) 26-27 Budget.
Assistant Chief Financial Officer Thomas Liu continued his presentation and said that Water Funds’ revenues and expenditures result in the use of a $1.6 million fund balance for the year.
“The combined Water Fund had a total spendable fund balance of $19.2 million, as of June 30, 2025,” he said. “A deficit of $2.8 million is projected for this year, which would leave us with a projected fund balance, as of June 30, 2026, at $16.4 million. For next year, the proposed fiscal year (FY) 26-27 budget revenues of $76.5 million and expenditures of $78.1 million result in a use of available fund balance of $1.6 million for next year.”
He said the FY 26-27 Available Fund Balance as of June 30, 2027, is projected at $14.8 million.
“The FY 26-27 Wastewater Fund revenues are projected to total $46.7 million, which is a $1.7 million, or a 4 percent increase over last year,” he said. “The FY 26-27 Wastewater Fund expenditures are proposed at $49.3 million, which is $38.2 million less than the adopted budget of $87.5 million. That was…
