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CC 05-20-2025 Item No. 20. Third Quarter Financial Report_Staff Presentation (added 05-19-2025)May 20, 2025 Fiscal Year 2024-25 Third Quarter Financial Report FY 2024-25 Third Quarter Update Proposed Third Quarter Budget Adjustments Budget Roadmap Agenda FY 2024-25 Third Quarter Update General Fund FY 2024-25 Amended Budget as of Mar. 31, 2025 FY 2024-25 Amended Budget as of Dec. 31, 2024 FY 2024-25 Amended Budget as of Sept. 30, 2024 FY 2024-25 Adopted Budget $122.1$122.1$122.1$89.8Revenues $137.6$129.8$119.1$90.0Expenditures ($15.5)($7.7)$3.0($0.2) Estimated use of Fund Balance FY 2024-25 Amended Budget – General Fund ($ in Millions) Classification Actual 2022‐23 Actual 2023‐24 Adopted  Budget  2024‐25 1st Quarter   Projection 2024‐25 Mid‐Year  Projection 2024‐25 3rd Quarter  Projection 2024‐25 Non Spendable 0.9$        3.4$         0.4$           4.7$                3.4$                     3.4$                        Restricted 20.7        23.3         20.7           20.7                20.7                     22.1                        Committed 34.1        108.6       99.0           31.1                98.6                     98.6                        Assigned 9.7          4.7           7.0             7.0                  4.7                        ‐                            Unassigned 73.1        26.0         23.6           106.2              25.3                     26.4                        TOTAL FUND BALANCE 138.6$    166.1$     150.8$       169.8$            152.8$                 150.6$                    Fund Balance in General Fund ($ in millions) Includes unrealized revenues from The Rise approximately, $10.7 million Proposed Third Quarter Budget Adjustments Fund Balance (use of) ExpenseRevenueFund $4,849,766$60,815$4,910,581General $54,239($54,239)-Special Revenue $498,355($208,001)$290,354Capital $166,500$44,000$210,500Enterprise $5,568,860($157,425)$5,411,435Total All Funds Budget Requests by Fund Fund Department Revenue Expenditure Change in  Fund Balance Proposal GENERAL FUND 100 General Fund Non‐Departmental    4,451,038                      ‐              4,451,038 Sales Tax Projection Increase 100 General Fund Community  Development       158,000            158,000                        ‐   Bank Charges 100 General Fund Community  Development                ‐                87,000               (87,000) Building On‐Call Contract for  Inspections 100 General Fund Community  Development                ‐                33,000               (33,000) Code Enforcement ‐ Citation  Processing Center Fees 100 General Fund Parks & Recreation                ‐                26,000               (26,000) Bank Charges 100 General Fund Parks & Recreation       301,543                      ‐                 301,543 Increased Revenue from Rentals  and Programs 100 General Fund Parks & Recreation                ‐                15,487               (15,487) Part‐Time Staffing 100 General Fund Public Works                ‐                50,000               (50,000) Material Bunker Wall  Replacement 100 General Fund Public Works                ‐                  9,200                 (9,200) Portal Park Emergency Tree  Removal 100 General Fund Public Works                ‐                  9,828                 (9,828) Civic Center Tree Grates  Replacement 100 General Fund Public Works                ‐                  9,194                 (9,194) McClellan Ranch Park Entrance  Sign Replacement 100 General Fund Public Works                ‐             (336,894)             336,894 Defund ‐ Various Projects TOTAL GENERAL  FUND    4,910,581              60,815            4,849,766  Proposed Third Quarter Budget Adjustments SPECIAL REVENUE  FUNDS 210 Storm Drain  Improvement Public Works                ‐               (54,239)               54,239 Defund ‐ Pumpkin/Fiesta Storm  Drain Project TOTAL SPECIAL  REVENUE  FUNDS                ‐              (54,239)               54,239  CAPITAL FUNDS 420 Capital Improvement  Fund Public Works                ‐             (498,355)             498,355 Defund ‐ Various Projects 429 Capital Reserve Public Works       290,354            290,354                        ‐   Tranfers in and outs for the  defund of various projects TOTAL CAPITAL  FUND       290,354          (208,001)             498,355  ENTERPRISE  FUNDS 520 Resource Recovery Public  Works                ‐               (20,000)               20,000 Defund ‐ CAP  Dashboard Pilot 560 Blackberry Farm Parks & Recreation           5,500              15,000                 (9,500) Bank Charges 580 Recreation Program Parks & Recreation       205,000              49,000               156,000 Bank Charges TOTAL ENTERPRISE   FUNDS       210,500              44,000               166,500  TOTAL ALL FUNDS  $5,411,435  $      (157,425) $       5,568,860  Proposed Third Quarter Budget Adjustments (cont’d) Fund Department Revenue Expenditure Change in  Fund Balance Proposal •No changes recommended Staffing •As of March 31, 2025, the City Manager’s Discretionary Fund was used for the End of Year Townhall and Lawrence-Mitty encampment cleanup. City Manager Discretionary Fund Next Steps and Recommendations Roadmap to FY 2025-26 Budget Adoption and Balancing Last Updated 5.1.2025 April 2025 Community Budget Meeting Budget Update 1st Quarter Report (sch Nov, postponed to Dec Confirm City Work Program & Review Goal and Top Priorities FY 2025-26 Proposed Budget Hearing & CIP FY 2025-26 Adopted Budget October 2024 November 2024 January 2025 June 2025 February 2025March 2025 Budget Update 3rd Quarter Report May 2025 CDTFA Resolution December 2024 Sales Tax Repayment Reserve Discussion City Work Program Approach and Goal Setting Memo City Work Program Approach and next steps City Work Program Estimates on staffing & budget costs City Work Program Review goals & select top priorities Budget Update Budget Format & Performance Measures Budget Update Mid-Year & Update Financial Forecast Vacancy ReportingBudget Update IAP City Work Program Top Ten Items Discussion Bu d g e t U p d a t e St u d y S e s s i o n / F i r e w o r k s Budget Update Capital Improvement Program (CIP) Bu d g e t U p d a t e Sp e c i a l P r o j e c t P o l i c y Budget Update CIP Defunding Discussion 1.Accept the City Manager’s Third Quarter Financial Report for Fiscal Year 2024-25 2.Adopt Resolution No. 25-XXX approving Budget Modification No. 2425-390, decreasing appropriations by $(157,425) and increasing estimated revenues by $5,411,435 Recommendations Questions?