1 TO: City Council
FROM: Andrew Vialpando, City Manager
PREPARED BY: Susan Kamada, Administrative Services Director MEETING DATE: October 21, 2025
SUBJECT: Fiscal Year (FY) 2024/25 Quarterly Financial Report
RECOMMENDED ACTION
Receive and file the Fiscal Year (FY) 2024/25 Quarterly Financial Report for the Fourth Quarter Ending June 30, 2025.
BACKGROUND
This financial report summarized the City’s financial position for the quarter ending June 30, 2025, for the General Fund, Water Funds, and Special Revenue Funds. The purpose of this report is to provide City Council, City management, and the Lomita community an update on the City’s fiscal status based on the most recent financial information available.
The City operates on a biennial budget cycle. Through the budget, the City Council approves revenue estimates and authorizes city staff to expend the city’s limited financial resources. As one of the many activities that the city undertakes to help ensure its financial soundness, staff provides quarterly financial reports on the City’s budget condition.
The Fourth Quarter Financial Report covers financial activity through the fourth quarter of FY 2024/25, ending June 30, 2025.
FISCAL IMPACT
There are no financial implications resulting from this recommendation.
CITY OF LOMITA
CITY COUNCIL REPORT
Item No. 7e
2 VISION, MISSION, VALUES, AND STRATEGIC OUTCOMES
The City’s Vision, Mission, and Values set the standard for the organization, establish priorities, uniformity and guidelines; and provide the framework for policy decision making. The Strategic Outcomes were implemented to provide a pathway to achieving the City’s Vision. This item aligns with Strategic Outcome No. 6: High Performing Organization – a results-driven, customer-focused organization with efficient operations, fiscal responsibility, and a commitment to continuous improvement and service excellence.
OPTIONS
1. Receive and file the report.
ATTACHMENTS
1. FY 2024/25 Quarterly Financial Report Fourth Quarter Ending June 30, 2025.
Approved by:
Andrew Vialpando
City Manager
Prepared by:
Susan Kamada
Deputy City Manager/Administrative Services Director