ATTACHMENT 1
CITY OF COSTA MESA
GENERAL FUND FINANCIAL REPORT
As of February, 2025
FY 2024-25
Adopted
Budget
FY 2024-25
Amended
Budget
FY 2024-25
Year to Date
Actuals
FY 2024-25
Year End
Projections
% of
Amended
REVENUES
Taxes
Property Tax $60,473,546 $60,473,546 $32,497,566 1 $60,484,659 54% Sales and Use Tax $81,567,890 $81,067,890 $38,980,474 2 75,186,129 48% Transient Occupancy Tax $10,136,373 $10,136,373 $5,655,542 9,687,921 56% Business Tax $940,807 $940,807 $594,988 1,128,681 63% Cannabis Gross Receipts Tax $3,517,760 $3,517,760 $1,989,629 3,564,960 57% Franchise Fees $6,675,334 $6,675,334 $2,208,795 3 6,551,299 33% Licenses and Permits
Cannabis Business Permits $299,426 $299,426 $140,590 240,590 47% Other Licenses and Permits $4,499,030 $4,499,030 $3,136,202 4,620,056 70% Fines and Forfeitures $1,303,176 $1,303,176 $849,760 1,340,306 65% Use of Money and Property
Golf Course Operations $3,925,073 $3,925,073 $2,300,313 3,922,091 59% Other Use of Money and Property $1,435,627 $1,435,627 $965,654 1,013,136 67% Other Government Agencies $866,086 $866,086 $1,100,209 1,372,648 127% Fees and Charges for Services
Cannabis CUP $206,519 $206,519 $0 0%
Paramedic Transportation $7,757,157 $8,257,157 $4,795,567 7,193,350 58% Other Fees and Charges for Services $5,086,848 $5,086,848 $3,302,853 5,389,467 65% Other Revenues/Transfers In
Other Revenues $1,203,507 $1,203,507 $777,050 1,809,440 65% TOTAL REVENUES $189,894,159 $189,894,159 99,295,192 183,504,733 52%
EXPENDITURES
TOTAL EXPENDITURES $189,894,154 $187,592,026 $126,101,938 4 $187,115,813 67% USE OF RESERVES $0 $0 $0 $0
TOTAL YEAR TO DATE DIFFERENCE $5 $2,302,133 ($26,806,746) ($3,611,080) TOTAL FULL TIME EQUIVALENTS (FTE) 602 602 535 5 1 Property Tax receipts, the bulk of which is collected twice per year, around December and May. 2 Sales Tax is allocated monthly starting in October with a true-up in June. 3 Franchise Fees are primarily received in April. Other franchise fees from solid waste haulers are received quarterly. 4 Total expenditures include a prepayment of CalPERS Unfunded Accrued Liability (UAL) of $29.1 million, of $28.0 million is the General Fund's share. 5 Filled Full-Time Equivalents (FTEs) at 535, as of the end of December; does not reflect part-time positions.