City Council

8.\nReceive and File the Fiscal Year 2025-26 Second Quarter Financial Report (Mid-Year\nBudget Review) and Approve Budget Adjustments\nPrepared by:  Stephanie Sikkema, Director of Finance and Administrative Services\nRecommendation:  It is recommended that the City Council take the following actions:\n1. Receive and file the Second Quarter Financial Report for Fiscal Year 2025-26 (Mid-Year\nBudget Review); and\n2. Approve the following budget adjustments:\nIncrease General Fund (Fund 111) expenditures by $486,800 and revenue by\n$763,450 for a positive net change of $276,650;\nIncrease Cypress Recreation and Park District General Fund (Fund 212) expenditures\nby $14,500;\nDecrease Asset Seizure Fund - Justice (Fund 282) expenditures by $64,750;\nIncrease Asset Seizure Fund - Treasury (Fund 283) expenditures by $84,750 and\nreallocate $75,100 from an expenditure to a transfer to the City Capital Replacement\nFund (Fund  721);\nIncrease City Capital Projects Fund (Fund 415) expenditures by $97,000 and revenue\nby $37,000;\nIncrease City Central Services Fund (Fund 711) expenditures by $24,100;\nIncrease City Capital Replacement Fund (Fund 721) expenditures and revenue\n(transfers-in) by $75,100; and\nIncrease Cypress Recreation and Park District Capital Replacement Fund (Fund 725)\nexpenditures by $30,400.