Measure AA committee reviews FY25-26 fourth-quarter financial snapshot

The Measure AA Oversight Committee on Tuesday received a fiscal-year snapshot for FY25-26 from Finance Manager and City Treasurer Adam Jans, who said the Measure AA fund began the reported year with about $10.3 million and, with final postings pending, stood at roughly $11,089,000.

Jans told the committee the city’s sales and use tax receipts for the year totaled "$6,141,983.15," a 3.38% increase over the previous fiscal year and about $130,000 above staff projections. He cautioned the figures are in the post period and "subject to some change" pending final postings and the full audit.

The finance manager said expenditures were tracking at about 79% of budgeted revenues for the period and that a net change in fund balance was just under $800,000. He noted the interim audit found no issues and that the final audit work is scheduled to begin once the trial balance is provided in November and staff aim for an issuance in January.

Committee members did not object to receiving and filing the report; the committee recorded the report as received and filed. No public comments were made during the meeting.

The committee requested staff follow up with any adjustments that appear during final postings and to report back on items that may materially affect the year-end fund balance.