The City’s Operating and Capital Improvement Program (CIP) Budgets are adopted by City Council every other year (biennially) in June.

The City operates on a fiscal year that starts on July 1 through June 30 of the following year.

Each of the City’s ten departments participates in the City’s budget process. They are as follows:

1. City Attorney’s Office
2. City Clerk Department
3. City Manager’s Office
4. Community Development Department
5. Cultural and Community Services Department
6. Finance Department
7. Human Resources Department
8. Information Technology Department
9. Public Works Department
10. Strategic Communications and Public Affairs
11. Contract with the Ventura County Sheriff's Department

The City maintains a long-term Financial Strategic Plan to guide decision-making, ensure structural balance, and plan for future service and infrastructure needs.

The adopted total budget for FY 2025–26, including capital projects, is approximately $303.0 million.

The General Fund is the City’s primary operating fund and supports core services such as public safety, public works, community development, and general government operations. It is the City’s most flexible funding source.

The City’s General Fund budget is $122.2 million.

The City’s adopted budget is $10.4 million to provide library services at both its Grant R. Brimhall Thousand Oaks Library and the Newbury Park Library. This amount includes $10,000 in Capital Projects. Costs are primarily offset by Property Taxes paid. If necessary, the General Fund may provide support to the Library Fund.

The City’s adopted budget for the Water Fund is $51.6 million, which includes $18.0 million in capital projects and $19.8 million in water purchases. Revenue is primarily from the sale of water to customers and associated water fees.

The City’s adopted budget for the Wastewater Fund is $39.3 million, which includes $15.6 million in capital projects and no debt service. Revenue is primarily from wastewater service fees paid by customers.

The City’s adopted budget for the Transportation Fund is $19.6 million, including $5.1 million for capital projects and approximately $6.1 million for transit contract service costs. Revenues come primarily from federal transportation act and state transportation development act gasoline taxes. Additional funding comes from state and federal grants and fare revenues from bus and Dial-A-Ride services.

The City’s adopted budget for the Golf Course Fund is $8.5 million, which includes $0.2 million in capital projects and $7.2 million in management fees. The fund is offset by golf course and food-and-beverage fees.

The City’s adopted budget for the Theatres Fund is $6.2 million to run both the Fred Kavli and Janet and Ray Scherr Forum Theatres. Revenues are primarily related to the rental of both theatres.

The City has budgeted $80.4 million for CIP projects within ten different categories as follows:

1. Water Projects - $17.1 million
2. Transportation/Traffic Projects - $14.7 million
3. Wastewater Projects - $12.5 million
4. Street Projects - $10.3 million
5. Facility Projects - $8.4 million
6. Stormwater Projects - $7.4 million
7. Landscape/Streetscape Projects - $5.2 million
8. Undergrounding - $3.0 million
9. Open Space Projects - $1.7 million
10. Library Projects - $0.1 million

The City’s financial policies are formal guidelines adopted by the City Council that govern budgeting, financial management, reserves, capital planning, and investments. These policies support fiscal accountability, transparency, and long-term financial sustainability.

1. Audit Policy14.002-Establishesrequirements for independent financial audits and reporting.
2. Budget Policy 14.004 - Defines how the City develops, adopts, and manages its biennial budget.
3. Budget Appropriations and Transfers Policy14.003- Outlines how budget authority is established, adjusted, and transferred.
4. Capital Asset Capitalization Policy14.025- Sets criteria for identifying and recording capital assets.
5. Capital Improvement Program (CIP) Policy14.006- Guides planning and funding of infrastructure and capital projects.
6. City Accounting Policy14.001- Provides standards for financial reporting and internal controls.
7. Debt Policy14.007-Establishes guidelines for issuing and managing debt.
8. Fixed Asset Replacement Policy14.008- Defines funding and lifecycle planning for asset replacement.
9. Governmental Fund Balance Policy14.020- Sets reserve levels to ensure financial stability.
10. Investment Policy14.012-Establisheshow public funds are invested safely and effectively.
11. User Fee Policy14.016- Guides how fees are set to recover the cost of services.