One Council Committee meets this week and that’s Budget and Government Efficiency. Committee members will hear the Mid-year Budget Monitoring Report which gives an update to the city’s revenues and expenditures for the first half of the fiscal year.

From the Office of Council President Joe LaCava

Budget and Government Efficiency Committee Meeting – February 4, 2026 – 9 a.m.

Budget Committee Meeting Agenda

Consent Agenda

Item 1 – Approval of Committee Minutes

Discussion Agenda

Item 2 - Authorization for the Public Facilities Financing Authority of the City of San Diego Water Revenue Bonds

This item would authorize the issue of Public Facilities Financing Authority of the City of San Diego Water Revenue Bonds, in one or more series, to finance the Water Utility’s Capital Improvement Program projects and to refund certain outstanding Water Revenue Bonds to achieve debt service savings.

The bonds, issued concurrently or separately would:

1. Finance capital improvements to the Water System, including the repayment of outstanding Water Revenue Commercial Paper Notes, in an aggregate principal amount not-to-exceed $150 million

2. Refund certain Water Revenue Bonds to achieve debt service savings, provided that any such refunding complies with the City’s Debt Policy.

    

Item 3 - Fiscal Year 2026 Mid-Year Budget Monitoring Report

The purpose of the Fiscal Year 2026 Mid-Year Budget Monitoring Report is to provide the City Council, and the public, with an update of revenues and expenditures for funds with budgeted personnel expenditures. The Department of Finance produces this report in collaboration with City departments and is developed using five months of unaudited actual activity and projections for the remaining seven periods through fiscal year-end.

The Mid-Year Report is developed using five months of unaudited actual activity in budgeted operating departments, with projections of anticipated spending and revenue trends for the remainder of the fiscal year.

Item 4 - FY 2027 Updated City Council Budget Priorities

Per the City Charter, the first step for the City Council in the City’s annual budget process is the development of the annual Budget Priorities Resolution. The annual Budget Priorities Resolution is first developed and approved in the fall; and Council also has the opportunity to update its initial Budget Priorities Resolution in February.

The Council approved its initial Budget Priorities Resolution at its November 18, 2025 meeting; and IBA Report 25-32 REV contains the Council’s budget priorities that constitute the initial FY 2027 Budget Priorities Resolution, which was submitted to the Mayor for consideration in the development of the FY 2027 Proposed Budget.

Now the Council has the opportunity to update its initial FY 2027 Budget Priorities Resolution. This item on updated City Council budget priorities (IBA Report 26-03) will be heard at the Budget and Government Efficiency Committee on February 4, 2026, prior to the February 9, 2026 hearing at the full City Council.

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