Preliminary Preliminary Final
January February February Positive Increase
2025 2025 2024 (Negative) (Decrease)
Assets:
Cash and investments 105,646,322$ 104,905,267$ 91,477,653$ 13,427,614$ 14.68 % Restricted cash 8,051,089 8,051,089.00 7,482,834.00 568,255 7.59 Accounts receivable, net 950,323 1,076,358.00 739,095.00 337,263 (1) 45.63 Due from other funds - - - - - Prepaid items 1,336,292 1,113,054.00 1,042,696.00 70,358 6.75 Deposits 125,000 125,000.00 125,000.00 - - Total Assets 116,109,026$ 115,270,768$ 100,867,278$ 14,403,490$ 14.28 % Liabilities:
Accounts payable 10,047$ 5,767$ 2,446$ 3,321$ (2) 135.77 % Wages & payroll taxes payable 10,744 290,477 7,110 283,367 (3) 3,985.47 Deposit & deferred revenues 2,598,846 2,602,079 4,619,667 (2,017,588) (4) (43.67) Total Liabilities 2,619,637 2,898,323 4,629,223 (1,730,900) (37.39) Fund Balance:
Nonspendable 1,461,292 1,238,054 1,167,696 70,358 6.03 Restricted 8,253,853 8,251,361 (5) 7,658,407 592,954 7.74 Committed 88,036,791 88,036,791 (6) 71,360,064 16,676,727 23.37 Assigned 6,310,709 5,764,143 4,819,750 944,393 19.59 Unassigned 9,426,744 9,082,096 11,232,138 (2,150,042) (19.14) Total Fund Balance 113,489,389 112,372,445 96,238,055 16,134,390 16.77 Total Liabilities and Fund Balance 116,109,026$ 115,270,768$ 100,867,278$ 14,403,490$ 14.28 % - - -
Fund Balance:
Beginning Balance on July 1 109,522,919$ 109,522,919$ 91,561,603 $ 17,961,316$ 19.62 Revenues 29,509,461 32,674,238 32,669,754 4,484 (7) 0.01 Interfund Transfers-in 915,269 915,269 1,171,328 (256,059) (21.86) Total Revenues & Transfers-in 30,424,730 33,589,507 33,841,082 (251,575) (0.74) Expenditures 26,047,960 30,329,681 28,773,580 (1,556,101) (8) 5.41 Interfund Transfers-out 410,300 410,300 391,050 (19,250) 4.92 Total Expenditures & Transfers-out26,458,260 30,739,981 29,164,630 (1,575,351) 5.40 Total Fund Balance 113,489,389$ 112,372,445$ 96,238,055 $ 16,134,390$ 16.77 % (1)
(2)
(3)
(4)
(5)
(6)
(7)
(8) Year-to-date expenditures increased by $1.6m primarily due to increases of $0.8m in Community Development, $0.7m in Highways & Streets and $0.4m in CIP Administration, offset by decreases of $0.3m in Economic Development.
Year-to-date revenue is comparable to prior year in February.
Pursuant to GASB 54, City Council adopted a Resolution committing $88.0m of the General Fund Balance for the fiscal year ending June 30, 2024 as listed in the table below:
Liabilities and Fund Balance:
The Restricted fund balance includes $7.6m PARS Trust balance, $0.5m economic development loans, and $0.2.m CASp fee.
City of Camarillo
General Fund
Comparative Balance Sheet
January 31 and February 28, 2025, and February 28, 2024 - Preliminary Year over Year
Accounts receivable increase is due to normal fluctuations during the fiscal year.
Wages payable is significantly higher than prior fiscal year due to timing of PERS payments.
Accounts payable increase is due to normal fluctuations during the fiscal year.
The Deposit and deferred revenues has a net decrease of $2m due to ARPA funds being spent in prior fiscal year.