Budget and Finance Committee meeting summary
At a glance
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Committee approved multiple fiscal reports and actions, including amended financial status and homelessness fund reports, authorized Proposition HHH bond issuance, approved finance agreements with U.S. Bank, and continued the shared mobility trip fee item.
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What this means
Committee members reviewed and approved city financial reports and several finance actions that affect how the City manages and borrows money. The committee approved issuing Proposition HHH bonds to fund housing-related projects and agreed to changes to homelessness account reporting. Two Office of Finance agreements with U.S. Bank for fleet and commercial card services were approved. The proposed update to shared mobility device trip fees was continued, so there is no immediate change to those fees.
Key decisions
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- Approved the City Administrative Officer Second Financial Status Report for FY 2025-26 as amended.
- Concurred with the Housing and Homelessness Committee on the FY 2025-26 Third Construction Projects Report.
- Approved Los Angeles Department of Building and Safety report concerning a plumbing plan check fee refund (Refund Claim No. 177625).
- Approved a motion directing the City Administrative Officer to report on options for a new financial policy for contract spending that exceeds Council authorization.
- Concurred with the Housing and Homelessness Committee on the Homelessness Emergency Account (General City Purposes Fund) 32nd Status Report, as amended.
- Approved City Attorney and City Administrative Officer reports and resolution authorizing issuance and sale of Proposition HHH General Obligation Bonds, Series 2026-A (Taxable) and adding a related special funds section to the Administrative Code.
- Approved Office of Finance report authorizing a subsidiary agreement with U.S. Bank National Association for fuel and fleet commercial card services.
- Approved Office of Finance report authorizing a Third Amendment to Agreement No. C-126137 with U.S. Bank for commercial card services.
- Continued the City Attorney and LADOT item to update Shared Mobility Device Trip Fees to a date to be determined.
- Approved multiple closed-session litigation items (recess to closed session to confer with legal counsel) and reported actions in open session.
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