Council Budget and Finance Committee - Regular Meeting

Good evening, everyone. It is Hayward City Council Budget, Council Budget and Finance Committee. It's Wednesday, August 19th, 2026. It is 5.33 p.m. And I can call the meeting to order. And if I can have someone make the roll.

That will be me, Mayor Salina.

Present.

Awesome. Awesome. Awesome.

And always it's backfield, right? Yes. Yes. There's another famous field out there. You know that, right? Yeah, yes. Okay, so next is public comment. This is for anybody to make a public comment on the agenda. I don't see anybody in the room and I don't think there's anybody online. And then I will close public comment, and I'll move on to the. Yeah, by Sarah, just second by councilman. And if there are no directions that we've been moving on to report to them. The even oral presentation list will point three, five, 26, monthly by the actual report. So, when I think. The manager or.

Okay. So we have started the fiscal 26, 27 fiscal year, but we are still reporting out for 25, 26. Most of what's happened in 27 is shown for the 26th. So next month, you'll receive two reports. You'll receive 25, 26 updated as we're still receiving revenues and some other times, transactions, and then you'll receive a report for the first quarter. Okay. So we're still monitoring very closely. There's some outstanding revenues during 2026 sales tax haven't come in yet.

As of this week, we have a second reimbursement coming from the OPEB Trust.

We do know that amount, the sales tax amount, we do not know. We have additional property tax and property transfer tax, EHO users tax and transit occupancy tax. So we've estimated what those numbers might be based on looking at past years, current, what's been coming in currently to make those estimates, but we don't have final numbers yet. So right now, the projected deficit, expenses exceeding revenues, is $1.7 million more than we thought in June. So we're at nearly $3 million difference between revenue and expense. So some of that is related to revenues that have slowed down. We'll get into the details in a future slide. And then some of our key expenses that were difficult to estimate as the year was closing out. So, again, at the end of the year, by the end of the year, so around September 30th, we'll evaluate all of our transfers, transfers in and out, and we'll close basically at a zero revenues matching expense. This was authorized as part of your 26-27 budget resolution. And, again, we'll report out to you and we'll be, this year, doing a budget year-end report to the whole Council around November, depending on the time they can bring that to you. So... Again, in terms of the highlights, the sales tax and property tax, they're looking to exceed projections by over $4 million between the two of them. But UDT and charge for services are below projections by nearly $3 million. Expenses are trending almost $3 million above the June projection. And again, supplies and services exceeded projections by $2 million. We've had some reduced maintenance and utilities costs and increased charge up salaries. The service and supplies budget was a really aggressive projection, still far below the original budget of $15 million. So we really do want to recognize all the work that just didn't get all the way there. We are still working on some items. That's another area where we might find some good. So our benefits exceed projections by 2.3. And again, as I mentioned earlier, some difficult to pay, difficult to estimate pays, leave payouts. And we'll get, again, in the line by line. Yes.

So I guess... What is the reason for these big swings? Because I guess if we were in June and we had projections, that projection is only a 30-day out projection, right? Because it's just for the rest of the month of June. So when we thought we were going to land in June in one dollar amount or $1.3 million over.

Yeah, in terms of revenues? Or in terms of expense?

I mean, I guess, well, in terms of expense, we're $2 million over, right?

Yeah.

And is that $2.3 million just in salaries for the month of June?

Actually, it's mostly, and we'll get into it line by line, and maybe we can talk about it through those specific items. If that's okay? Yeah, sure. So starting with revenue, oh, sorry, I'm sorry, I missed a slide myself. So the projection, we're looking at the table, we're starting, we're compared to the June projection. So what we projected to you about two months ago. So normally we'd be doing the actual budget, but we never really had a budget in 25, 26. That means it's really challenging. We've got the unaudited actuals, that's what's really come in and been booked, a new projection, and the difference between those projections. So that's what we can look at in the next slide. I think to better respond to your specific. Okay. So as we get into some of the line items, so property tax, we've got payments through May. We're still expecting a June payment. I saw it come in today, which is a little bit better than we expected. Not sure the percent number, some of what came in is posting better funds, but sales tax similar. That's performing really well, but we do have a larger, we have a projection for June. We don't know or have it yet. But utilities user tax has trended really down. We've really been working with numbers from our consultant. And we compared, we made sure that all of those payments have come in. There's just one set of payments that's not here yet that we've projected. But mostly, most of that is in. So we just looked at prior years for those providers. UT can really swing for a lot of reasons. If people are using a lot more power because it's a lot out. If fuel prices are up, that would put our prices to go up. So there's a lot of causes to the UUT swings, and it's something we'll really have to monitor, especially as we add in the UU Keeper stream. So that's one area that's been really challenging. Real property transfer taxes is a pretty small difference, but again, something with the interest rates, it's just hard to predict, but we've been predicting it to go down. Charges for service, a big one here is that we were expecting a payment, a building permit payment of about a million dollars for the data center, It came in July. It's not something we would accrue because it's really for future services. Having received it, it would be okay to leave it, but to accrue it doesn't match the accounting purposes that we should be using, so that came in a little bit lower. At the end of the day, we're up in revenues by $900,000, so that's good news, but the revenues that were performing well had to cover the revenues though. If you look at some of those responding to your questions, like sales tax, when we present, we're still two months missing. So we're two months ago projecting like two or three more months of sales tax because those are coming in always two months late. And now we're down to just one missing month of sales tax at this point. UUT comes in generally monthly, but it varies by provider. And again, the timing.

I guess the bottom line story here is overall, right? Exceeded projections by a

Exceeded the change. Yeah. So going on to transfer.

Normally going forward, we're going to be comparing to our budget, right? Because this year within the budget was like literally changing. And as we were really, it's really, we just keep comparing to that previous month. So, you know how things are changing, but from now on going forward, we're always going to be tracking to the budget. We told you so.

And it'll be helpful for departments as well to manage. So, for example, if a buyer has a lot of strike teams out, they're probably a privacy that really works fine. And then we'll manage between that and the revenue we would expect for that work to address whether we need a budget adjustment or whether they can manage it because they'll have low loans.

So that's the expensive side, but just an example.

So going on to transfers, our next OPEB trust payment is not received yet, but we know that now and it's higher than we expected. So the transfers will be a little bit higher. From an accounting perspective, that's actually a revenue zone in the future. When we do 27, you'll see that on the revenue side instead of the transfer side. But we thought it would be less confusing to build areas. So at the end of the day, again, compared to June, about $1.3 million for revenues and transfers up. So on the expense side, the... The leave and special pays budget was really high. Some of that happens in the year of retirement. There's a lot of payouts and some changing of shifts that might cause some additional pays. We've made some corrections to employees in terms of some sideburns that have been done. Some of that's still coming in. CalPERS retirement costs against some of those special pays too. There's some of those costs. So that's just instead of that UAL, which will again as part of the transfers. So those were a big chunk of a difference, about 2.3 million. And supplies and services were up about 1.9 again, offset by the reduced maintenance and utilities. Those could change still a bit more. We could have invoices coming in that are still really for the prior year. And those supplies and services include some items that we may still be passing. So our contracts team is working really carefully to close things out that or not really for next year. We're still doing a lot of work in that area. And then in terms of charge-outs, that's where departments provide services to, for example, Measure B or other funds. Those get charged out, and they well overperformed the projection. So all in all, it's still a significant change. With the end result totals, remember the 1.7 is comparing to June. We expected 1.2 at that time, but the total difference for revenue expense is about three. So again, we're hoping to close it in by having those revenue numbers come in a little bit better, but we need to be conservative and realistic. And again, by some more closing of items. But we will just keep monitoring that for the next two months. So you'll see that hopefully come a little bit smaller when we come back in the next two months. And it will ultimately end up at zero. We'll have to consider increasing transfers if necessary from, for example, the workers' health bank.

Can I ask a question on that? So if you go back to that, so I guess just comparing to June, right, the actual, so we were $2 million off in supplies and services from a projection that we kind of took 30 days before closing up. What was that big driver of $2 million in supplies and services?

So departments had hoped to make, I think it was about $2.8 million in reductions. And it was kind of an aggressive assumption because they had some crazy. And so as we've been closing encumbrances, they just didn't get all the way where they hoped to get. So at that time, I think I addressed that it was a pretty aggressive forecast in terms of sources of supplies, because when we looked at what they actually encumbered in our system, meaning I've committed to pay a vendor this much money, it was probably closer to the $9.6 million number, but we hoped maybe they just had some timelines and understandings at the time.

So I guess for this budget that we're entering into, are we budgeting if the $10 million North still needs?

At the offhand, I think it's around 10, but I don't have that. When we look at it next month, we can look at it together. We did spend a lot of time on that. So again, this year was about around 15, and then we kept carbonate down, but some of that was carried forward from Friday, and we've taken out all that carry forward opportunity for departments. There's only a couple of very minor carry forwards into this. You see that difference between column C and D. That's about 400. And those are some minor carry forwards. But in the prior year, the carry forwards were about $3 million, being that we took funds from the prior year and moved them into the new year. So a huge reduction, and they're really tying their expense time into the new year.

Another quick question. I appreciated the city manager's explanation about, you know, we're comparing month to month, and eventually we're going to start to compare to the budget. And I'm just curious, at what point in time will we see that transition? I mean, is that going to be?

It'll be for the whole fiscal 27 years.

So it'll be next year.

So starting with your next month report, when we're looking at fiscal 27.

Oh, next month.

Yeah. So next month, when I'm looking at that July 31, August 31, it'll truly be the budget. And every month you'll see it advance to the budget. Okay.

We're going to have both, right? Because we're going to have, we'll have one more month. One more like this. We're closing out because your revenues and things come. We'll still have one more month of fiscal year 26, and then we'll also start the first month of 27. Okay.

I get it.

Typically, like a city would, I mean, even budget, you know, which we're happy to do for a good reason to do this, but we would normally wouldn't. provide, you'd be doing a mid-year update. Yeah, no, I mean, I know why we're doing this. It does mean that things, you know, it's more of a spotlight than you would normally expect. But we're, you know, we're coming out of that. That would be under a healthy fiscal situation, right?

I think, too, it'll have the departments actually matching to a true budget as well. So, you know, there wasn't really the data that they needed in the system because it was speed of learning and stuff like that. So now they'll be able to see, okay, I have $600,000 left in services and supplies, and I know that I still have this contract coming up, and I need to do this project. And so they'll know what they're accountable to, where we just could never get quite the right numbers in MUNIS. So now the numbers in MUNIS for 26.7 match the actual budget that was adopted. They may need to move some things around within their department, but what you'll see at that roll-up level will be actually – what's stuck in the budget. You'll see some budget adjustments, as always. They might come with a grant or a contract. So that column B example could move, but it would be the adopted, what you've adopted to do. Typically, there'll be a mid-year adjustment, but then, you know, sometimes somebody has a new grant or a project that needs to adjust.

And you know, so it's like the supply and services for next year is 10% or this is 10% or this is up to 10%.

No, listen, I think this is great. I mean, I think the last, you know, three or four, three or four budget meetings that we've had, I mean, you know, once we got all the color coordinating sort of, once we got all that, I mean, this is great. I mean, I can, you know, when I'm just, when I'm at like league meetings or at some of these regional meetings, I mean, you know, we don't go into it this deep But, like, I'm sitting there and I'm looking at it. I mean, I can see how we are sort of taking that sort of extra step in doing this. This is just a hell of an education, let me just tell you. This is like a master's class in municipal finance, literally.

Are there any other questions on the revenue expense items before we move on to solid benefits? All right. So in terms of salaries, again, we just ended up a bit over budget. So about a million out of the budget of 165, so less than a percent. Again, hard for them to manage to the precise item. So we're comparing that million to the 163. There was an adjustment from before we were using, I think, 165. But when we adjusted the UAL numbers, that came down to the 163. So again, about 6.6% over the budget that we were targeting. And now we've baked in our current budget.

I've just noticed, just looking at this, I've noticed talking to some of the more senior staff around here, people are retiring at the end of the year. It's kind of interesting. You know, I don't think it's because of all of this, but as soon as they said, you know, it's going to be interesting to see what happens at the end of the year. There's going to be a cohort of people. It would be really interesting to see sort of the impact of this. Yeah.

Yeah. But we'll understand that. So now we've got a state line item. In fact, we could start to display that if you want. This is just the lead payouts. If you want to see how that's doing as a phone line item, we'll be able to do that summarized or by apartment level. So it would go on to overtime. So overtime was a bit up. So May was high because it was a three-payroll month. June was a two-payroll month. But as you can see, it's kind of trending between the April 2 payroll and the May. So it's high. We checked in with our chiefs because they're the, of course, the bulk of it. They, police have backfilled the mandatory training. They have some alignment changes. Now the July shift changed. They have investigations and SWAT call-outs and then meditary overtime fee staffing minimums in the comp center, which is a third of their, their basic overtime expenses. Fire, they have three factors they, increased vacations during the summer months. So people are covering those vacations, mandatory training, and then backfill for workers' compensation. So we will, we can plan a spike in July and finally, you know, they're out on strike teams. We do recover that, but we'll look at, we'll do this ongoing comparison. Still significantly better than just looking back to the supper when we were starting to do that trend down. And so we're still well below, if you look at by 25, we were 16 million, and now we're 10.

So a lot of work. On fire in January 26.

Yeah, they had a really low month.

Yeah, okay. Yeah, this is, okay, I thought, okay, yeah, we're 26.

Yeah, they changed the minimum staffing, and they said it's generally kind of fire letter, there might be fewer staff meetings. Yeah, less probably vacations, kids are back in school, things like that. So I know the chief did mention that February is a long month for them. So probably that time is just how people are using their leave.

What was the jump in other? I mean, because we saw a trend of like, you know, 15, 14, 12, and then 35. I mean, I get, and then 40. I mean, it seems like just overtime was high in general. across the city over the last six months.

Yeah, I didn't pursue that trend because it was smaller than the others, but certainly we can find a healthy next meeting.

I was just wondering, because when you look at it compared to January, which seems like a good performing month, it seems. Yeah. In all of these areas.

Oh, there's the difference. I was thinking, what is the difference? Okay, and then this is the lowest overtime has been in five years. Is there like a total cost to the city?

Yeah, for an annual year. Yeah.

That's great.

When we look even at the other, it's so much bigger. It's like 10%.

Great work.

All right. And it may be possible that it always spikes in June and July. We just haven't ever tracked it like this before. It just might be the annual trend. Yeah.

I mean, just what it says, right? Even though we were above, you know, we were over 171,000, we're still much less than prior years. Over the past five years, I guess.

It always feels a little funny to say over budget since we're telling you to go grab a budget, but we were using a target. We're targeting a number to get to.

I think it's just important that we make sure that those trends don't continue to increase. And I think we're saying in July, we're going to see more in overtime. I mean, I guess if I'm the manager.

Yeah, well, I think, I mean, that's why I think it's good for us to be tracking this monthly when we wouldn't normally do that, just because we are trying to get things back on track. So we'll just have to keep monitoring the trends and have to adjust.

There's something I just learned from actually family. I was used to the OES before, so it's the same. Yeah, they take a year. Now they're coming in in the same year. So we'll monitor that against what we've budgeted. So there's some anticipated overtime related to instructing events. But if it's going over that amount, we'll have a balanced coming back to say, okay, there was this much more overtime construction events, we would have this much more revenue associated with it, and we'll adjust that budget.

And it does help our folks get training, I mean, to go out. We know those types of fires and things, so even though it kind of seems like, oh, being altruistic, it does help our staff get training, so if there are fires here, they don't have to

And we do get more than 100% of staff. They do reimburse for vehicles and administration. So there's a physical benefit as well. Okay, last slide is measure C. We did make this report a little bit different from last time. We'll kind of keep refining this. So in measure C, we're kind of tracking like where's measure C going to go. So we'll come forward for the discussion. With Measure C, we have two missing payments. Not sure why, but we'll work on that. We do have some earnings because there's actually some interest earnings because there's actually bonds in there. We're waiting on the transfer back, or we should say the transfer back from the list was probably a little bit higher than that. Salaries and benefits, we didn't re-correct the budget like we did for a general fund, so that was kind of higher than budget, but we corrected in 27. So everything has been off from the budget all year, but we've corrected that seven. So measure C will decline. Check that as a transfer to the general fund. It will decline by about $4 million from this during balance. We've evaluated that in the long-term forecast so that we're making transfers in future years that we know that it's equal to $1 million.

So that is the full report.

Can you go back to the measure sheet? I just want to look at that.

So we're coming out with the ending balance $4 million higher than expected?

$4.69 million.

4.6 million as a result of the business department. Okay. Okay. And then do we anticipate, I mean, what kind of interest are we to get on having that 5 million back in the account?

So it's about a quarter of the account. I mean, it depends on how the rates wash.

Okay.

You know, right now I think treasury rates are still the same, which is not helping in property transportation. It's one of those kind of

Okay.

No, no, nothing bringing it away.

Yeah. Okay.

You know, if interest rates are higher in terms of government rates, then we earn more earnings, but we're also not having, you know, other revenues come in. Okay. Okay. But yeah, you could, you could kind of guesstimate another quarter. So like another quarter,

I guess, you know, it's sort of a big general question I have is, you know, I know I've said this before, but I've mentioned this. I think it was yesterday or the day before, you know, it was the first day of school and I was watching news and the superintendent of the San Francisco Unified School District, she had a press conference and the press conference was about how the school district, this is the first day year in the past, I don't know, five years, but this was the first year in a long time where the San Francisco School District was out of receivership. And she did this, you know, this press conference and she kind of, you know, I mean, you know, if you didn't know what she was talking about, you might have not, you know, you might have changed the channel. But if you sort of knew what she was talking about, you know, it sort of you know, made you listen. And so I say all of that because, you know, at what point do you think would be a good point where we can begin to message that, you know, officially that we are sort of returning the corner and we're doing, you know, like we're, you know, we are on track again. I mean, I guess at what point can we do that? I'm not saying we need to have a press conference in the return to make this big Major announcement, but, but sort of at what point do you think we can start saying, okay, you know, this is we've turned the corner. And this is what we're doing, you know, we have, I have made some comments online about it and. Or in total disbelief that, you know, we've balanced the budget to get to where we're at now, you know, and so forth, but. You know, at what point can we make the announcement. That. we are in a place today that is a hell of a lot better than we were eight months ago. Nine months ago.

I mean, I definitely think my, even in the time that Deanna and I, I think we're in a better place. We're stable. I do think because we, we do have a pretty big projected structural deficit. And when I've talked to employees, I've been, I haven't said we've turned the corner. For one, we need to see what happens with the election and they involve, you know, business license tax and that's a huge benefit to our structural, you know, because we've largely balanced our budget this fiscal year with one-time funds. So if we know that we pass, you know, business license tax passes and I guess I would like to feel like our structural deficit isn't quite so bad before we kind of really are like we turn the corner. Do I think we're more stable than ever yet? I mean, then we have We have been in the last six months. Absolutely. So I guess it depends on what words you want to say, but I think we're definitely achieved greater stability, but the structural deficit worries me. And what also worries me is that it feels like their economy is not headed in the right direction. Like we, six months ago, we saw interest rates starting to go down or start up and now they're going back up and it feels uncertain. And so that, that could mean our revenues go down if that, go down even further, which makes our structural deficit worse. But I guess I just feel like there's so much uncertainty. I'd be careful. I would be careful to message that we're turning the corner. But I do think we've achieved stability. I think we've achieved greater stability, I'll say.

I think, too, in terms of positive messaging, we have a greater understanding. So when I was a candidate to come here as finance director, there was this black hole in August and November, really, of like, okay, we spent all our reserves, but they're, you know, I think we didn't know. So we've come to this place where we have this greater understanding. I don't have a message for stuff like that, but that, like Jen's saying, the stability, but it's a message that, you know, the clarity of that understanding might be the direction to be thinking about. I agree. I want to communicate that we know it better. But yeah, there's still, we're not,

by far not have the woods yeah and i don't want to over well you know i don't want to overhype this right and i don't want to over overstate it yeah and and yeah and i get it you know i just uh you know maybe that's what i'm feeling that i can when i look at this is you know just a stronger sense of where we're going and a stronger sort of proficiency and sort of how to talk about

And I think maybe that's what I'm feeling. And maybe we have more discipline and transparency with our budgets. Yeah, but to your point, there's still some pretty big structural.

I mean, the fact that we, I think Anna and I both had talked, when we set the budget for Overton, we were like, we have to hit this to get to the year. And they more or less hit what we targeted, which is extreme discipline. So I think that, yeah, it's But we are facing, it was what I've been also saying to employees, we're facing an uphill battle. The economy is looking really bad. So it's not just us.

And the more I look at the numbers, the more I think there are things we can do on both the revenue and expense side. But I do think there's going to be part of this, we're just going to, the economy is going to have to get better for us to really get out of the structural deficit. And so that's a little bit of a waiting game. So it's like how long, you know, we've talked about this, how long can we wait? where we have to make some pretty big, tough decisions. Because a little higher growth in our property tax and property transfer tax, that's going to take care of potentially a third of our deficit right there. So if the economy comes back, it's going to help us a lot.

But it is a little... We turn the corner when the economy comes back. So...

We're trying to ride out that last third, but if we can, or the colony drags on, or we go into a recession, then we may be faced with some pretty tough choices. That's why I'm hesitant to say that we try.

I looked at the assessor's report around the property tax, and some cities are having declines. Oakland has a decline because of the property assessments. We're still at three, so maybe a year less than two. We're just trying to get that automatic to plus any transfers during the year. So, you know, those things are, you know, we're better than some of our peers in terms of things like that. So, again, but also understanding our numbers really well. The fact that property and sales textbook came in our little head is really great news. Yeah, okay.

Four years. I think we can do it. I think we can do it.

Yeah.

Yeah.

Because I think the next two are going to, I think, you know, maybe start to see some growth in that third year and then the fourth year maybe.

And then yesterday I was watching, you know, the news hour on Channel 9.

You know, it's been on the news all day today, but, you know, we've just now hit a $40 trillion, you know, deficit, national deficit. And I think everyone, you know, nervous, you know, just thinking, oh, my God. You know, if we stop spending and if people start getting nervous, stop spending money. Yeah, yeah.

But there are bright spots like the multifamily market. We talked about this in San Francisco starting to improve. I mean, that means that rents are going up, but it does mean that people are trying to build again. You know, people can't buy homes because the mortgage rate is being higher and they're renting more. You know, there could be some bright spots in the real estate market.

You might just follow. I don't think.

Okay. No. Okay.

Is that it? Just thank you for this discipline and thank you for all of the answers.

It's so important.

And I think we're all excited to see .

Speaking of that, are you thinking we want to talk now about trying to switch dates?

Yeah, we can talk about it now before the end. But we, as we recognize we're running these reports still by spreadsheet instead of a system. What we'd like to do is look at maybe moving this thing to the fourth Wednesday. I think there's one potential conflict that may or may not work through.

It would be required to bring the infrastructure committee so that we don't have to swap them or something.

And also the reason, I mean, what happened, like we're preparing this, say we're preparing a council packet last week and it just ends up being a lot. And then this next, so the next one will have both this reconciliation for council 26 and for 27, so it'll be even bigger. So we're just trying to think of a way that we're not, because what we want is to make sure, like, the numbers make sense, that we have time to do, you know. We're starting at the end of the month, so we start this report, like, after the month has ended.

So 9-1, we start at 8-3.

Okay. Well, at the very least, moving it next month, just so we have a little more time to do both reconciliates for both fiscal years. Ideally, we move it off of council packet days.

We have a little more. That's fine. I mean, I already spend two Wednesdays a month with Mayor Pro Tem Syrup. So that would be good. Yeah. Well, actually three. So next month, of course, is the League of California Cities conference.

It's the 23rd. You're right.

Yeah. and for some reason the september 30th sticks out in my mind i don't have my phone well i don't have doesn't mean but you don't have to live but i don't usually you and i are i know i know so you know what let's let's

Yeah, September 30th.

I may have a conflict, but this can take priority.

I do have a conflict, so I won't. I'll have to.

Why don't we try to send some videos?

It sounds like pretty good for last Wednesday to move forward. Yeah, OK. And so have you already talked to Councilor Ange about this?

No. Yes, I don't. We want to see if it would work for you. Okay. It might be a possibility. We'll do it in the other place. Okay.

So we'll pull some personal dates in September. You know, because we're moving anyway. If that works for you all. Will that work in future months? You said September.

Fourth Wednesday, I think you're saying.

Fourth Wednesday.

Okay. All right.

So we'll move on to item number three, a calendar. So we've got to prepare meeting time.

Can you guys keep this calendar in front as we move? We do have on each future meeting where we're trying to bring in fiscal policy, we'll modify these dates if that That's what we choose to do. So we're just, you know, we're hopeful to get a policy sheet pretty regularly. Reserves, grants, we're doing updates. So we want to just keep that on our radar to get you, well, not a big pocket like we did last year, but we're kind of pulling those out and bringing them one at a time with some updates and alignments. So we're doing, you know, alignments to internal policies as well. Otherwise, in September, we will probably move that budget year into October. Sorry, I didn't catch that already. You'll see updates for 25, 26, and 26, 27. We review our debt at that time, and we can review our liabilities like our OCA. And we'll mention liabilities. If we don't have our California report, that would be that. Yeah, pretty aggressive in September, September.

So we will check in. Okay. Okay.

Okay.

Okay. Thank you. Thank you. Thank you. Thank you. Thank you.

Oh.