Template revised April 12, 2018.

COMMISSION

AGENDA MEMORANDUM

Item No. 11a

BRIEFING ITEM Date of Meeting July 8, 2025

DATE: June 24, 2025

TO: Stephen P. Metruck, Executive Director

FROM: Elizabeth Morrison, Interim Chief Financial Officer

Michael Tong, Director, Corporate Budget

SUBJECT: 2026 Budget Development Briefing

EXECUTIVE SUMMARY

The purpose of this briefing is to provide the Commission and the public a preview of the budget

development. Staff would also like to seek the Commission’s feedback on the guidance on

preparation of the 2026 budget.

This is one of a series of budget briefings to the Commission starting from July prior to the formal

Commission reviews and approvals of the 2026 budget from September to November.

ATTACHMENTS TO THIS BRIEFING

(1) Presentation slides

PREVIOUS COMMISSION ACTIONS OR BRIEFINGS

June 17, 2025 – Commission Budget Retreat