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March 4, 2025
ITEM TITLE
Financial Report and Appropriation: Accept the Quarterly Financial Report for the Quarter Ending December 31, 2024 (Second Quarter Report) and Appropriate Funds to Implement Required Budget Adjustments
Report Number: 25-0049
Location: No specific geographic location
Department: Finance
G.C. § 84308 Regulations Apply: No
Environmental Notice : The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act State Guidelines. Therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.
Recommended Action
Accept the quarterly financial report for the quarter ended December 31, 2024 (the “Second Quarter Report”) and adopt a resolution making various amendments to the fiscal year 2024 -25 budget and the fiscal year 2024-25 Capital Improvement Program budget to adjust for variances and appropriating funds for that purpose. (4/5 Vote Required)
SUMMARY
The Finance Department, in collaboration with other City departments, prepares quarterly financial reports for the General Fund that reflect budget to actual comparisons, projected revenues and expenditures, and highlight major variances that may require additional action or changes to the Amended Budget. This Second Quarter Report is as of December 31, 2024, and is in compliance with Section 50 5 (f) of the City Charter, which requires that quarterly financial reports be filed by the Director of Finance through the City Manager.
In preparing the Second Quarter Report, staff have identified various budgetary changes that are needed to accurately re flect projected revenues and expenditures or address changes in budgetary needs. For government entities, a budget creates a legal framework for spending during the fiscal year. After the budget is approved by the City Council, there are circumstances whic h arise that could require adjustments to the approved budget. Council Policy 220 -02 “Financial Reporting and Transfer Authority” was established in P a g e | 2
January of 1996 and amended October of 2023, and allows for budget transfers across budget categories and other adjustments to be completed. Budget transfers and adjustments processed pursuant to this authority are provided in Attachments 1 and 2. This Second Quarter Report discusses budget adjustments that staff recommend in the General Fund as well as various other funds to address identified fiscal issues.
ENVIRONMENTAL REVIEW
The Director of Development Services has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that the activity is not a “Project” as defined under Section 15378 of the State CEQA Guidelines because the proposed activity consists of a governmental fiscal/administrative activity which does not result in a physical change in the environment. Therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA. Thus, no environmental review is required.
BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Not applicable.
DISCUSSION
The Second Quarter Report is developed using six months of actual financial activity for fiscal year 2024-25 as of December 31, 2024. The data in this report is the most current data available; however, the projections are likely to change.
This report provides summary information for the following areas:
General Fund Revenues and Expenditures
Budget adjustments to General Fund Expenditures
Budget adjustments to non-General Fund funds
Update to Long Term Financial Plan
The Finance Department will continue to monitor the City’s actual revenues and expenditures and will provide updated projections in subsequent quarterly financial reports.
General Fund Overview
As of the Quarter ended, December 31, 2024, revenues are projected to exceed the Amended Budget by $1.7 million, and expenditures are projected to surpass the Amended Budget by $3.7 million. Staff anticipates major discretionary revenues to come in slightly lower than budget and other revenues to surpass the Amended budget by $2.3 million, detailed in the General Fund Revenues section. Similarly, expenditures in the Personnel Services category are projected to exceed the Amended Budget by $1.8 million and increased expenditures in the Utilities and Transfers Out categories are expected to be partially offset with savings in the Other Expenses category, also detailed in the General Fund Expenditures section. There are unknown political and economic variables that may affect the General Fund such as the impacts of policy changes from the incoming federal administration, changes to interest and inflation based on Federal Reserve actions, unemployment conditions, and other financial uncertainties. Staff will continue to monitor and will provide updates in future quarterly financial reports.
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Fiscal Year 2024-25 General Fund Overview
Table 1 in millions
Adopted
Budget
Amended
Budget
Year-end
Projection Variance¹
Revenue Source
Major Discretionary Revenues
Property Tax $ 52.0 $ 52.8 $ 52.8 $ - Property Tax in lieu of VLF 31.1 31.6 31.6 - Sales Tax 48.0 48.0 48.0 - Measure P Sales Tax 29.3 29.3 29.3 - Measure A Sales Tax 29.3 29.3 29.3 - Franchise Fees 15.1 15.1 15.4 0.3 Transient Occupancy Tax 10.0 10.0 9.3 (0.7) Utility Users’ Tax 3.9 3.9 3.6 (0.2) Major Discretionary Revenues Subtotal 218.6 219.9 219.3 (0.6) Other General Fund Revenues
Other Revenues 55.5 66.6 68.9 2.3 Other General Fund Revenues Subtotal 55.5 66.6 68.9 2.3
Total Revenues/Sources $ 274.1 $ 286.5 $ 288.2 $ 1.7 Expenditures
Personnel Services $ 146.9 $ 148.1 $ 149.9 $ (1.8)
Non-Personnel
Supplies and Services 25.7 25.0 25.7 (0.7) Other Expenses 2.2 2.4 2.4 - Transfers Out 87.7 99.3 99.8 (0.5) Internal Services 4.6 4.6 4.6 - Utilities 6.8 6.9 7.7 (0.8) Other Expenditures Category2 0.2 0.2 0.1 0.1 Total Non-Personnel 127.2 138.4 140.4 (1.9)
Total Expenditures $ 274.1 $ 286.5 $ 290.3 $ (3.7)
Use of Prior Year Fund Balance $ - $ - $ (1.5) $ 1.5
Total General Fund Surplus/(Deficit) $ - $ - $ (0.6) $ (0.6) 1 Variance compares the Amended Budget and the Year-End Projection. Amended Budget and Projections reflected in this table do not include prior year appropriations.
2 Other Expenditures Category includes: Other Capital, Non-CIP Projects Expenditures and CIP Project Expenditures. *Tables may not tie due to rounding.
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General Fund Revenues
As shown in Table 1 above, the City’s General Fund revenues are projected to exceed the Amended Budget by approximately $1. 7 million. This is due to increased departmental revenue in the Other Revenues category of $2.3 million, offset by decreased revenue in the Major Discretionary Revenues category of $0.6 million. The Other Revenues category is projected to exceed the Amended Budget by $2.3 million primarily due to anticipated reimbursements in the Fire Department for strike team activities (State reimbursable fire deployments). Within the Major Discretionary Revenues category, Franchise Fees revenues are projected to exceed the Amended Budget by approximately $0. 3 million, however, Transient Occupancy Tax and Utility Users’ Tax are expected to be lower than the Amended Budget by $0.7 and $0.2 million , respectively.
Franchise Fees revenues are projected to be over budget primarily due to higher than anticipated revenue from refuse collection franchise fees. Transient Occupancy Taxes are projected to be under budget based on shifts in consumer behavior in response to rising costs and overall uncertainty about the economy. Utility Users’ Tax revenues are also projected to be under budget, largely attributed to federal regulation and shifts in utility consumption, particularly in wireless telecommunications services.
General Fund Expenditures
The City’s General Fund expenditures are projected to exceed the Amended Budget by approximately $3.7 million, primarily in the Personnel Services , Utilities and Supplies and Services categories. The overage in the Personnel Services category of $1.8 million is mainly due to increased overtime in the Police Department tied to operational needs and anticipated labor agreement Memorandum of Understanding ( MOU) cost increases that were not included in the Adopted Budget due to the timing of the contract ratification on May 21, 2024. The Utilities category is projected to be over budget by $0.8 million due to increased water usage driven by drier than normal weather conditions , and lower than anticipated solar power generation throughout the city increasing electricity costs. Additionally, the Supplies & Services category is projected to be over budget by $0. 5 million, primarily due to increased costs in the City Attorney’s Department for contracted outside counsel services and contract increases in the Information Technology Department.
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Departmental Revenues and Expenditures
Departmental Revenues
Table 2 below provides the Amended General Fund revenues budget, projected year -end revenues, and the projected variance (difference) between both at the department level.
Fiscal Year 2024-25 General Fund Departmental Revenues
Table 2 in thousands
Department Amended
Budget
Year-end
Projection Variance
City Clerk 35.8 40.4 4.6 City Attorney 382.3 230.1 (152.2) Administration 55.8 55.1 (1.0) Information Technology 306.8 241.4 (65.0) Human Resources 629.5 629.5 - Finance 1,594.5 1,131.0 (463.6) Non-Departmental 247,076.3 246,393.2 (683.1) Police 6,086.2 6,423.0 336.8 Economic Development 566.2 305.5 (260.6) Development Services 2,213.9 2,038.0 (176.0) Engineering/Capital Projects 9,429.2 8,977.8 (451.5) Fire 3,752.6 7,591.7 3,839.1 Public Works 8,056.5 8,059.8 3.3 Parks and Recreation 4,091.5 4,079.4 (12.1) Library 829.6 528.9 (300.6) Total Departmental Revenue $ 286,480.3 $ 288,167.5 $ 1,687.3
The largest variances in General Fund Departmental Revenues are projected to be in Fire, Non-Departmental, Finance, and Engineering and Capital Projects Departments. The Fire Department’s positive variance of $3.8 million is due to anticipated reimbursements for strike team activities (reimbursable fire deployments from the State). Non-Departmental is where the major discretionary revenues are recorded, including Property Tax, Sales Tax, Measure A Sales Tax, Measure P Sales Tax, and Property Tax in lieu of VLF (also known as Motor Vehicle License Fees) . The Non -Departmental projected negative variance of $0.7 million is largely due to lower than anticipated Transient Occupancy Taxes. The Finance Department’s negative variance of $0.5 million is due to lower staff time reimbursements than anticipated. Similarly, the Engineering and Capital Projects Department’s negative variance of $0.5 million is due to a decrease in staff time reimbursements due to vacancies.
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Departmental Expenditures
Table 3 below provides the Amended General Fund expenditure budget, projected year -end expenditures, and the projected variance (difference) between both at the department level.
Fiscal Year 2024-25 General Fund Departmental Expenditures Table 3 in thousands
Department Amended
Budget
Year-end
Projection Variance
City Council $ 1,714.0 $ 1,662.6 $ 51.0 Boards & Commissions 7.1 7.1 - City Clerk 1,585.4 1,585.4 - City Attorney 3,773.1 3,347.4 425.8 Administration 3,219.9 2,941.9 278.0 Information Technology 4,752.5 5,015.4 (262.8) Human Resources 4,014.6 4,011.4 3.2 Finance 5,097.3 4,997.4 100.0 Non-Departmental 109,458.2 110,125.0 (666.7) Animal Care Facility 3,733.5 3,561.8 171.7 Economic Development 611.8 569.2 42.5 Development Services 3,146.3 3,087.0 59.3 Engineering/Capital Projects 12,427.9 10,602.5 1,825.4 Police 60,182.4 62,289.4 (2,107.0) Fire 37,367.3 40,612.9 (3,245.6) Public Works 25,203.7 25,845.9 (642.2) Parks and Recreation 6,009.8 5,908.3 101.6 Library 4,175.6 4,088.0 87.6 Total Expenditure Budget $ 286,480.6 $ 290,258.6 $ (3,778.4)
Departmental Expenditures are expected to exceed the Amended Budget in various departments.
The following are explanations of the significant variances between budgeted and projected expenditure:
The Fire Department reflects a negative variance of $ 3.2 million, which is mainly driven by an increase in reimbursed overtime costs associated with strike team activities and anticipated MOU increases not included in the Adopted Budget.
The Police Department reflects a negative variance of $2. 1 million which is mainly driven by an increase in overtime costs tied to staffing vacancies and operational needs. The City is currently working with a consultant to review overtime usage to determine whether there are structural budgetary issues to be addressed.
The Public Works Department reflects a negative variance of $0. 6 million due to increased costs in utilities are driven by drier than normal weather conditions resulting in increased water usage as well as lower than anticipated solar power generation resulting in increased electricity costs. The Non-Departmental negative variance of approximately $0.7 million is due to a transfer out to the Public Liability Trust Fund for additional litigation activity. The City Attorney, Administration, and Engineering/Capital Projects Department’s positive variance of approximately $ 2.5 million is driven by department vacancies resulting in anticipated salary savings, which is partially offset by reduced departmental revenue.
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Fiscal Year 2024-25 Budget Adjustments
Staff is recommending various adjustments, appropriations, and transfers to City Departmental and Fund budgets that require City Council authorization.
General Fund Adjustments
In the General Fund, some of the transfers are between expense categories within the same Department and some transfers are between Departments. There are also proposed budget adjustments reflecting increased revenues and increased expenditures where needed to address unanticipated expenditure category overages and ensure accurate year-end reporting. The recommended budget adjustments are shown in the Table 4 below.
Table 4 – General Fund Adjustments
DEPARTMENT PERSONNEL NON-PERSONNEL TOTAL TOTAL
SERVICES EXPENSES EXPENSE REVENUE NET IMPACT
GENERAL FUND
City Clerk $ - $ 20,000 $ 20,000 $ - $ 20,000 City Attorney (500,000) 500,000 - - - Administration (20,000) - (20,000) - (20,000)
Information Technology - 300,000 300,000 - 300,500 Non-Departmental 441,000 (1,620,812) (1,179,812) - (1,179,812) Economic Development - (46,200) (46,200) - (46,200) Police - 57,500 57,500 - 57,500 Fire 2,375,000 20,000 2,395,000 (2,440,000) (45,000) Public Works 121,699 620,232 741,931 (55,419) 686,512 Parks and Recreation - 200,000 200,000 - 200,000 Library - 27,000 27,000 - 27,000 TOTAL GENERAL FUND $ 2,417,699 $ 77,720 $ 2, 495,419 $ (2,495,419) $ -
City Clerk: Increase to Non-Personnel Expenditures by $20,000 for additional contracted services offset by salary savings in the Administration department.
City Attorney: Increase to Non -Personnel Expenditures offset by a decrease to Personnel Services in the amount of $500,000 to pay for outside counsel services due to staffing vacancies.
Administration: Transfer of Personnel Services savings of $20,000 to City Council Department for additional contracted services.
Information Technology: Increase to Non-Personnel Expenditures of $300,000 for increased contract costs that will be offset with anticipated expenditure savings within other General Fund departments.
Non-Departmental: Increase to Personnel Services and decrease to Non-Personnel Expenditures for a total decrease in appropriations of $1,179,812. Decreases are due to lower than budgeted contractual costs and the repurposing of funds carried forward from fiscal year 2023-24 to maintain General Fund reserve targets.
Economic Development : Decrease in Supplies & Services of $46,200 for a transfer to Public Works for additional operational needs due to a reorganization of the Sustainability division.
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Police: Increase to Non -Personnel Expenditures of $57,500 for anticipated increase in utility costs for electricity.
Fire: Increase to Personnel Services and Non-Personnel Expenditures for a total increase to appropriations of $2,395,000 offset with additional estimated revenues of $2,440,000. These increases are for anticipated Fire strike team reimbursements from the State.
Public Works: Increase to Personnel Services and Non -Personnel Expenditures for a total increase in appropriations of $741,931. These increases are partially offset with an increase of anticipated revenues of $55,419. The increases are due to hourly and overtime costs and increased costs for electricity and water.
Parks and Recreation: Increase to Non-Personnel Expenditures of $200,000 for anticipated utility costs for electricity.
Library: Increase to Non-Personnel Expenditures of $27,000 for anticipated utility costs for electricity.
Other Fund Adjustments
The following recommended adjustments are for funds outside of the General Fund. The proposed adjustments are displayed in Table 5 below. The proposed adjustments are offset by additional current year revenues or the available fund balance of the respective funds.
Table 5 – Other Fund Adjustments
PERSONNEL
NON-
PERSONNEL TOTAL TOTAL
DEPARTMENT SERVICES EXPENSES EXPENSE REVENUE NET IMPACT
OTHER FUNDS
2016 Measure P Sales Tax $ - $ 1,000,000 $ 1,000,000 $ - $ 1,000,000 Advanced Life Support Program - 100,000 100,000 (306,251) (206,251) National Opioid Settlement - 1,050,545 1,050,545 (1,050,545) - Donations - 34,020 34,020 (34,020) - Federal Grants - (286,256) (286,256) - (286,256) State Grants 26,238 433,974 460,212 (504,379) (44,167) Section 115 Trust - 116,000 116,000 - 116,000 Public Liability Trust - 1,000,000 1,000,000 (1,000,000) - Open Space District #23 - 10,000 10,000 - 10,000 Town Ctr Business Improv Dist - 330,000 330,000 (330,000) - Equipment Vehicle Replacement - 50,000 50,000 (50,000) - Chula Vista Muni Golf Course 5,907 22,767 28,674 - 28,674 Development Services Fund 212,910 (29,840) 183,070 - 183,070 Transport Enterprise 945,920 1,367,388 2,313,308 (2,313,308) - Sewer Service Revenue 38,018 73,060 111,078 (104,078) 7,000 TOTAL OTHER FUNDS $ 1,228,993 $ 5,271,658 $ 6,500,651 $ (5,692,581) $ 808,070
2016 Measure P Sales Tax: Increase expenditure appropriations for budgetary cleanup for “CMP Emergency Repair” (DRN0216) project by $174,974, de crease expenditures appropriations for “CMP Rehab outside ROW Phase 2” (DRN0211) project $125,609 and $49,365 for “Dr ain Pipe Assess Outside ROW” (DRN0210) for a net impact of $0 to Non -Personnel Expenditures. Increase expenditures appropriations from fund balance by $1,000,000 for “City Facility Space Planning” (GGV0276) project. GGV0276 was presented to the Measure P Citizen’s Oversight Committee on January 23, 2025.
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Advanced Life Support Program: Increase appropriations by $ 100,000 offset with an increase to estimated revenues of $306,251 in the Other Revenues and Transfers In categories which corrects a baseline transfer from the Transport Enterprise Fund.
National Opioid Settlement: Increase both appropriations and estimated revenues by $1,050,545. This funding will be utilized to address the harmful effects of the opioid crisis.
Donations: Increase of $ 34,020 to Non -Personnel Expenditures for various donations received offset by estimated revenues.
Federal Grants: Decrease of $286,256 to Non-Personnel Expenditures to align budgets with grant awards.
State Grants: Increase of $460,212 to both Personnel and Non-Personnel Expenditures offset by an increase to estimated revenues of $504,379 to align budgets to grant awards.
Section 115 Trust: Increase to Non-Personnel Expenditures by $116,000 for estimated Trustee fees funded by interest earnings.
Public Liability Trust : Increase to Non -Personnel Expenditures by $ 1,000,000 offset by an increase to estimated revenues of $1,000,000 for projected costs related to litigation activity.
Open Space District #23 : Increase of $ 10,000 from fund balance to Non -Personnel Expenditures for unanticipated vegetation damage.
Town Center Business Improvement District : Increase both appropriation and estimated revenues by $330,000 to establish expenditure appropriations and estimated revenue to comply with accounting principles.
Equipment Vehicle Replacement: Increase both appropriation and estimated revenues by $50,000 for vehicle auction proceeds and vehicle purchase.
Chula Vista Muni Golf Course: Increase of $28,674 from fund balance to Non-Personnel Expenditures based on projected expenditure activity provided by the Golf course operator.
Development Services Fund: Increase of $183,070 from fund balance to both Personnel and Non -Personnel Expenditures from fund balance for position not included in FY2024-25 Adopted budget.
Transport Enterprise Fund: Increase of $2,313,308 to both Personnel and Non-Personnel Expenditures offset with estimated revenues of $2,313,308 to align budget with projections.
Sewer Service Revenue Fund: Increase of $111,078 to both Personnel and Non-Personnel Expenditures offset from both fund balance and estimated revenues of $104,078 for increased program costs.
Capital Improvement Project Budget Amendments
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Details outlined in the chart below for amendments to the Capital Improvement Project Budget.
Table 6 - Capital Improvement Project Amendments
FUND PROJECT
NON-PERSONNEL
EXPENDITURES TOTAL EXPENDITURES NET IMPACT
Measure P Sales Tax DRN0210 $ (49,365) $ (49,365) $ (49,365) Measure P Sales Tax DRN0211 (125,609) (125,609) (125,609) Measure P Sales Tax DRN0216 174,974 174,974 174,974 Measure P Sales Tax GGV0276 1,000,000 1,000,000 1,000,000 Transportation Grants - Gas Tax STL0471 (1,200,000) (1,200,000) (1,200,000) Transportation Grants - Gas Tax TRF0416 900,000 900,000 900,000 Transportation Grants - Gas Tax TRF0429 150,000 150,000 150,000 Transportation Grants - Gas Tax TRF0427 150,000 150,000 150,000 Transportation Sales Tax STM0404 (1,500,000) (1,500,000) (1,500,000) Transportation Sales Tax STM0414 1,500,000 1,500,000 1,500,000 Sewer Facility Replacement SWR0308 100,000 100,000 100,000 Sewer Facility Replacement SWR0294 (100,000) (100,000) (100,000) TOTAL AMENDMENTS $ 1,000,000 $ 1,000,000 $ 1,000,000
Long Term Financial Plan Update (Fiscal Years 2026-2035) The following table displays the updated financial projections for fiscal years 2026 through 203 0. A more detailed table that includes all ten years is provided as Attachment 3 to this report.
Table 7 – Long-Term Financial Plan (FY2026-2030)
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)
As shown earlier in this report, the current fiscal year is projecting a deficit of $0.6 million after repurposing $1.5 million in onetime funding carried forward from the fiscal year 2023 -24 to maintain the General Fund reserves at their target levels. As discussed during the presentation of the Long-Term Financial Plan (LTFP) at the February 11, 2025, City Council meeting, the LTFP has been revised to incorporate the current projections for the second quarter of fiscal year 2024 -25 which includes the imp acts of the recommended P a g e | 11
IAFF MOU ( Item 5.7) and transfer of nine (9.0 FTE) firefighter positions from the General Fund to the Measure A Sales Tax fund. Assuming no additional financial measures or policy changes to either increase revenues or reduce expenditures, FY 2026 projects a revenue shortfall of $2.0 million, growing to a deficit of $3.3 million in FY 2028. From FY 2029 forward the deficit begins to decline ending with a modest surplus of $1.5 million in FY2035.
For expenditures, the most significa nt drivers of the long -term grow th in expenses are related to the increasing costs associated with public employee salaries and benefits, insurance, and utilities. Additionally, there is the need to increase staffing and related costs related to maintenance of the City’s infrastructure and assets to prepare the General Fund for the sunsetting of Measure P sales tax in fiscal year 2036-37.
Fiscal Year 2026 Budget Balancing
As shown in the above table, FY 2026 is projected to face a revenue shortfall. Staff is currently developing the FY2026 Proposed budget and evaluating the various departmental requests. As such, t hese projections will continue to evolve as new information becomes available. The projections within this report assume continued economic growth. Even a small or short -lived economic downturn will amplify the projected deficits shown in the LTFP.
DECISION-MAKER CONFLICT
Staff has reviewed the decision contemplated by this action and has determined that it is not site-specific and consequently, the real property holdings of the City Council members do not create a disqualifying real property-related financial conflict of interest under the Political Reform Act (Cal. Gov't Code § 87100, et seq.).
Staff is not independently aware and has not been informed by any City Council member, of any other fact that may constitute a basis for a decision-maker conflict of interest in this matter.
CURRENT-YEAR FISCAL IMPACT
The Second Quarter Report presents projected revenue and expenditure amounts as of December 31, 2024, with updates through February 5, 2025 , as the most current information available. Approval of the resolution amending the fiscal year 2024-25 budget will result in the following impacts:
General Fund – The proposed adjustments result in no net fiscal impact to the fiscal year 2024-25 budget.
The proposed amendments will increase appropriations in various categories by a combined total of $2,495,419 which is offset by an increase in estimated revenues of $2,495,419.
Other Funds – The proposed adjustments result in a negative impact to the fiscal year 2024 -25 budget of the Other (non-General Fund) Funds of $808,070. This includes an increase in appropriations of $6,500,651 and increase estimated revenue by $5,692,581.
ONGOING FISCAL IMPACT
Staff will review the impacted budgets to identify potential ongoing impacts to be included in the annual budget development process for fiscal year 2025-26.
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ATTACHMENTS
1. General Fund Budget Transfers
2. General Fund Budget Amendments
3. Long-Term Financial Plan FY 2026-2035
Staff Contact: Sarah Schoen, Director of Finance/Treasurer Ed Prendell, Budget and Analysis Manager