UN-AUDITED
FISCAL YEAR END
BUDGET &
ACTUALS REVIEW
Fiscal Year 2024/25
Un-Audited Year ending
June 30, 2025
City of Cotati
FINANCIAL
REPORTING
Citywide Overview
General Fund
Enterprise Funds
Cash and Investments Portfolio
CITYWIDE
Revenues and Expenses On Target
•Wastewater – Pending Operating Transfer
of Funds from the operations fund to the
capital fund of $80K.
•Other Special Revenues – Due to Timing of
Receipts for Revenues and year end
accrual adjustments (exp. sales tax pass
through from the county).
•Capital Projects – Pending Transfers in Trueups as well as final year end grant receipt accruals.
•Internal Services – Pending final transfers
required for compensated absences and
equipment replacement.
Revenues are at 96.4% of Budget
•General Fund – Utilities is pending final
PG&E adjustment billing for all utilities
typically received in September, R&M is
missing transferred required for internal
service funds. Possible budget adjustment
proposed to reduce expenditures.
•Capital Projects and Special Revenue
Funds– are subject to timing of the projects
in place and related activity incurred
during the fiscal year.
•Internal Service- Pending true-up of vehicle
replacements and compensated absences
use of funds
Expenses are at 86.5% of Budget
CITYWIDE - REVENUES & EXPENSES
GENERAL FUND
COMPARATIVE
REVENUES & EXPENDITURES
DETAILED REVENUES
Rent,
$127,971
Other
Agencies,
$278,755
Other Revenues,
$373,449
Property Tax, $2,170,267
Sales Tax, $5,825,251
Other Taxes,
$891,183
Licenses,
Permits &
Franchises
, $745,975
Community
Developme
nt Charges,
$263,203 Public Works Charges,
$81,268 Public Safety
Charges,
$75,260
Investment
Earnings,
$223,794 Contributions, $18,521 Transfers
In,
$606,550
PROPORTION OF
GENERAL FUND REVENUES
DETAILED EXPENDITURES
ENTERPRISE FUNDS
S U M M A R Y O F W A T E R A N D W A S T E W A T E R F U N D S
ENTERPRISE FUNDS ANALYSIS
Revenues and Expenses On Target
• Increased revenues due to increased
water consumption during Q4 period
and increased rates over prior year in
line with the adopted rate study.
• Wastewater increase due to rate
increases offset by decreased average
sewer consumption averaging with over
the prior year.
Revenues are at 108% and 101% of Annual
Budget
• Increased expenditures consistent with
general fund across salaries and benefits
and legal and insurance.
• Increased Aqueduct Charges due to
increased consumption and rates.
Expenses are at 93% and 96% of Annual Budget
CASH &
INVESTMENTS
As of June 30, 2025
SUMMARY OF CASH
AND INVESTMENTS AT
JUNE 30, 2025
• Total approximately $18.0M. • In line with the City updated adopted investment policy. • Investments for quarter earned $160K in returns • Sufficient Cash for 6+ Months of operational needs
FISCAL RESILIENCE EVALUATION
F.
Total Revenues To
6/30/2024
Operating
Expenditures
6/30/2024
Revenues to
Expenses Goal
Operating Revenues to Operating Expenditures 3,505,418 $ 3,411,775 $ 103% > 110% Prior Fiscal Year
Revenues
6/30/2023
Prior Fiscal Year
Expenditures
06/30/2023
Prior Year
Revenues to
Expenses
Prior Year Revenues to Operating Expenditures 2,986,863 $ 3,416,391 $ 87% Note: This item is improving over prior year and aligned with the utility rate study. Revenues have improved in part due to the move to monthly billing which more closely ties to the cost of services rendered. This will continue to be monitored for increased risk.
E. Supporting Agency Change In Rates
1-Jul-24 Goal
Budgeted Rate Agency Rate Difference < 2%
Sonoma County Water Agency (65% of supply) 6.00% 9.98% 3.9800% All sections are green except for the following two which are continued known items for water and sewer fund. The staff are moving forward with a rate study refresh for both funds and will report back to council during future quarterly evaluations.
CONCLUSION
Fiscal Year was primarily on
track with Budget with
increases in both overall
Revenues and Expenditures
compared Prior Year.
Proposed final budget
amendment in general fund
and capital projects. Requests
for Adjustments outlined in
staff report.
City staff will continue to
update the Council with
quarterly financial reports as
well as the audited financial
reports for Fiscal Year 2023/24
City staff are committed to
exercising prudence and
integrity in the management
of public funds and provide
transparent accountability for
its use