Item 7.2: Quarterly Financial
Report
Second Quarter of Fiscal Year 2025
Sarah Schoen, Director of Finance/Treasurer
Ed Prendell, Budget & Analysis Manager, Finance Department Quarterly Financial Report
2Fiscal Year 2025 Second Quarter Financial Monitoring Report • Based on data from Quarter ended, December 31,
2024
• Compliance with City Charter Section 505(f)
• Identify various budgetary changes that are needed
to reflect projected revenues and expenditures
• Address changes in budgetary needs with
recommended adjustments, appropriations, and
transfers to various funds
Purpose
General Fund Revenues
(in millions)
3 Fiscal Year 2025 Second Quarter Financial Monitoring Report General Fund Expenditures
(in millions)
4 Fiscal Year 2025 Second Quarter Financial Monitoring Report General Fund Summary
(in millions)
5 Fiscal Year 2025 Second Quarter Financial Monitoring Report Non-Departmental: Adjustment to Personnel category by removing reversing salary savings target and decrease Supplies & Services based on projected activity.
Fire Department: Increase budget appropriations and the revenue budget Strike Team reimbursement from the State.
Public Works Department: Increase to Personnel Services for Sustainability division restructuring, and increase utility budgets for electricity and water costs.
General Fund Adjustments
6Fiscal Year 2025 Second Quarter Financial Monitoring Report 2016 Measure P Sales Tax: Increase appropriations for various CIP projects.
Development Services Fund: Increase appropriations for a position not included in the FY2024-25 Adopted Budget.
Section 115 Trust: Increase appropriations for Trustee fees funded by interest earnings.
Federal and State, Grant Funds: adjust appropriations for various grant awards
Other Funds Adjustments
7Fiscal Year 2025 Second Quarter Financial Monitoring Report
LONG TERM FINANCIAL PLAN
Fiscal Year 2025 Second Quarter Financial Monitoring Report DESCRIPTION FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Revenues
Major Discretionary Revenues 229.5 239.1 248.7 257.8 267.9 Other Revenues 54.5 55.6 56.3 57.1 58.0
New Development Revenues 2.7 3.5 3.8 4.0 4.1
Total General Fund Revenues 286.6 298.1 308.9 318.9 329.9 Year-over-year Change -0.5% 4.0% 3.6% 3.3% 3.4%
Expenditures
Personnel Services Expenditures 155.4 164.7 171.3 177.3 182.3 Other Expenditures 127.3 130.9 135.6 138.2 142.2
New Development Expenditures 5.9 5.6 5.2 5.5 5.4
Total General Fund Expenditures 288.6 301.2 312.1 321.0 330.0 Year-over-year Change -0.6% 4.4% 3.6% 2.8% 2.8%
General Fund Surplus/(Deficit) (2.0) (3.1) (3.3) (2.0) (0.1) Next Steps
9Fiscal Year 2025 Second Quarter Financial Monitoring Report FISCAL YEAR 2026 BUDGET
DEVELOPMENT PROCESS IS CURRENTLY
UNDERWAY
PUBLIC WORKSHOPS FOR OVERVIEW
OF FY2025-26 PROPOSED BUDGET
FINANCE STAFF WILL BE PRESENTING
THE FISCAL YEAR 2026 PROPOSED
BUDGET IN MAY TO THE CITY COUNCIL
FINANCE STAFF WILL BE PRESENTING
THE FISCAL YEAR 2025 3RD QUARTER
FINANCIAL REPORT IN MAY/JUNE TO
THE CITY COUNCIL
Item 8.X: Quarterly Financial
Report
Second Quarter of Fiscal Year 2025