FROM:
Finance
SUBJECT:
Title
Fiscal Year 2026-27 First Quarter Budget Status Report - Fontana Community Foundation
End
RECOMMENDATION:
Recommendation
Approve the recommended Fiscal Year 2026-27 First Quarter Budget adjustments.
End
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.
DISCUSSION:
The Fontana Community Foundation was created on April 27, 2005, by Foundation Resolution 2005- 01. The Foundation is a separate legal entity of the City and is governed by California State Law. The Foundation is legally chartered as a Section 501(c)(3) non-profit organization within the Internal Revenue Code. The Foundation oversees the actions of unincorporated divisions such as the Fontana Library Foundation Division within the City structure.
It is the mission of the Fontana Community Foundation to lessen the burdens of government by aiding and assisting in the implementation, improvements, and maintenance of public services that preserve and promote the health and welfare and education of local citizenry of the City of Fontana.
The current 2026-27 Foundation Operating Budget includes total uses (expenditures and transfers out) of $73,100 and total sources (revenues and transfers in) of $2,500. The recommended budget includes an increase to total sources of $20,500 and uses of $84,867 for total sources of $23,000 and total uses of $157,967.
The First Quarter budget recommendations are to:
• Carryover revenues of $20,500 and appropriations of $84,867 for the Stage Red Youth Music Foundation from FY25-26.
FISCAL IMPACT:
The fiscal impact associated with the approval of this item is an increase in revenues by $20,500 and appropriations by $84,867 as detailed in the First Quarter Budget Status Report and supporting schedules.
MOTION:
Approve staff recommendation.