FROM:
Finance
SUBJECT:
Title
Fiscal Year 2026/27 Supplemental Budget Report - Fontana Housing Authority
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RECOMMENDATION:
Recommendation
1. Approve the recommended Fiscal Year 2026/27 Supplemental Budget adjustments
2. Authorize the carryforward of the available budget at fiscal yearend to the following fiscal year for all capital improvement projects and obligations funded with grants and other one-time funding.
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COUNCIL GOALS:
• Operate in a businesslike manner by ensuring that the public debate is based on accurate information.
• Practice sound fiscal management by producing timely and accurate financial information.
• Practice sound fiscal management by living within our means while investing in the future.
• Practice sound fiscal management by fully funding liabilities and reserves.
• Practice sound fiscal management by developing long-term funding and debt management plans.
DISCUSSION:
The Fontana Housing Authority (Authority) budget is an important policy document, serving as the annual financial plan that identifies the spending priorities for the Authority. The budget is used to balance available resources with community needs, as determined by the Authority Board of Directors. The budget also serves as a tool for communicating the Authority's financial strategies and for ensuring accountability.
It is the mission of the Authority to actively improve, increase and develop quality neighborhoods and housing opportunities throughout the City of Fontana.
On June 10, 2025, the Board of Directors adopted the two-year operating budget for Fiscal Years 2025/26 and 2026/27. As adopted the Fiscal Year 2026/27 budget includes revenues in the amount of $2.8 million, and appropriations were approved in the amount of $643,900.
The proposed Supplemental Budget Report increases revenues by $185,000 and increases appropriations by $305,830. As a result of these adjustments, the Fiscal Year 2026/27 revised budget includes revenues of $3.0 million and appropriations of $949,730.
FISCAL IMPACT:
The fiscal impact associated with the approval of this item is detailed in the attached schedules.
MOTION:
Approved staff recommendation