City Council

13. Review Fiscal Year 2025-26 Third Quarter and Proposed 2026-27 Operating and\nCapital Budget Update\nRecommended Action: Staff recommends that the City Council: 1) Review and provide\nfeedback on the proposed Fiscal year (FY) 2025-26 Third Quarter Adjustments and FY\n2026-27 Budget Update Report; 2) Approve Resolution (Attachment A) amending the\ncurrent FY 2025-26 Operating and Capital Budget as included in Exhibit A of Attachment\nA; 3) Approve Finance Committee proposed revisions to the Pension Reserve Policy\n(Attachment B); 4) Approve Finance Committee proposed revisions to the Investment\nPolicy for FY 2026-27 (Attachment C); 5) Approve Resolution (Attachment D) approving\nthe Statement of Investment Policy for FY 2026-27; and, 6) Receive the report on City\nemployee vacancies, recruitment, and retention efforts pursuant to Assembly Bill (AB)\n2561 requirements.\nReference: Clerk’s File No. 202-1, 202-3