Preliminary Preliminary Final
March April April Positive Increase
2025 2025 2024 (Negative) (Decrease)
Assets:
Cash and investments 111,867,859$ 115,226,264$ 101,982,389$ 13,243,875$ 12.99 % Restricted cash 8,037,883 8,037,883.00 7,403,197.00 634,686 8.57 Accounts receivable, net 924,858 852,874.00 956,308.00 (103,434) (10.82) Due from other funds - - 18,184.00 (18,184) (1) (100.00) Prepaid items 895,928 657,339.00 623,124.00 34,215 5.49 Deposits 125,000 125,000.00 125,000.00 - - Total Assets 121,851,528$ 124,899,360$ 111,108,202$ 13,791,158$ 12.41 % Liabilities:
Accounts payable 9,556$ 10,832$ 150$ 10,682$ (2) 7,121.33 % Wages & payroll taxes payable 4,521 617,370 16,607 600,763 (3) 3,617.53 Deposit & deferred revenues 2,606,242 2,601,946 4,620,485 (2,018,539) (4) (43.69) Total Liabilities 2,620,319 3,230,148 4,637,242 (1,407,094) (30.34) Fund Balance:
Nonspendable 1,020,928 782,339 748,124 34,215 4.57 Restricted 8,235,565 8,248,943 (5) 7,578,770 670,173 8.84 Committed 88,036,791 88,036,791 (6) 71,360,064 16,676,727 23.37 Assigned 5,069,313 4,283,331 3,821,903 461,428 12.07 Unassigned 16,868,612 20,317,808 22,962,099 (2,644,291) (11.52) Total Fund Balance 119,231,209 121,669,212 106,470,960 15,198,252 14.27 Total Liabilities and Fund Balance 121,851,528$ 124,899,360$ 111,108,202$ 13,791,158$ 12.41 % - - -
Fund Balance:
Beginning Balance on July 1 109,522,919$ 109,522,919$ 91,561,603 $ 17,961,316$ 19.62 Revenues 43,626,165 50,515,684 39,633,692 10,881,992 (7) 27.46 Interfund Transfers-in 1,395,695 1,395,695 10,363,339 (8,967,644) (86.53) Total Revenues & Transfers-in 45,021,860 51,911,379 49,997,031 1,914,348 3.83 Expenditures 34,891,970 39,343,486 34,695,024 (4,648,462) (8) 13.40 Interfund Transfers-out 421,600 421,600 392,650 (28,950) 7.37 Total Expenditures & Transfers-out35,313,570 39,765,086 35,087,674 (4,677,412) 13.33 Total Fund Balance 119,231,209$ 121,669,212$ 106,470,960$ 15,198,252 $ 14.27 % (1)
(2)
(3)
(4)
(5)
Liabilities and Fund Balance:
The Restricted fund balance includes $7.4m PARS Trust balance, $0.6m economic development loans, and $0.2.m CASp fee.
City of Camarillo
General Fund
Comparative Balance Sheet
March 31 and April 30, 2025, and April 30, 2024 - Preliminary Year over Year
Due from other funds decrease is due to the full repayment of the General Fund loan to CDBG Fund.
Wages & payroll taxes payable is significantly higher than prior fiscal year due to timing of PERS and payroll taxes payments.
Accounts payable increase is due to higher contract retention payable in currect fiscal year, along with 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.
(6)
(7)
(8) Year-to-date expenditures increased by $4.6m primarily due to increases of $1.7m in Public Safety, $1.4m General Government, $1m in Public Workds and $0.5m in Community Services.
Year-to-date revenue increased by $10.9m compared to prior fiscal year, which includes an increase of $7.3m in new State (ERF) grant, $4.2m in Property taxes, $0.4 m in Investment earnings, as well as a decrease of $1m in Development Services.
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: