RE N T ST A B I L I Z A T I O N DE P A R T M E N T
February 20, 2025
TO: Pasadena Rental Housing Board
FROM: Will Panza, Management Analyst IV
Rent Stabilization Department
SUBJECT: DEPARTMENT OPERATING BUDGET QUARTERLY UPDATE Recommendation:This report is for information only.
The Rent Stabilization Department (RSD) is pleased to provide its second quarterly operating budget update for Fiscal Year 2025. This report primarily covers expenditures for the period between July 1, 2024 and December 31, 2024.
Overall Neutral Budget Performance:
RSD is currently underspending the budget to plan. This positive variance is primarily due to:
Personnel: RSD experienced staff turnover for several senior positions prior and during the second quarter of fiscal year 2025. The combined vacancies resulted in decreased Personnel expenditures relative to the first quarter.
Services and Supplies: Largely driven by the timing of invoicing and posting of expenses. For example, the contracted hearing officer will generate expenses once hearings begin. The Department has yet to receive an invoice from other vendors for services rendered such as one for implementation and integration fees from 3di for the Rental Registry.
Capital Outlay: The Department has declined further tenant improvements that would incur additional expenses. Examples include white noise soundproofing and window blind replacements.
A high-level overview of the budget vs. actuals is provided in the accompanying chart and a summary of expenses:
Rent Stabilization Department Quarterly Budget Update
February 20, 2025
Expenses FY25 Revised
Budget
FY25 Actuals as
of 12/31/24
FY25 Available Percentage
Remaining
Personnel $ 2,249,582 $ 884,578 $ 1,365,004 61% Services and Supplies $ 1,636,006 $ 327,954 $ 1,308,052 80% Capital Outlay $ 90,000 $ 31,546 $ 58,454 65% Internal Services $ 780,823 $ 380,412 $ 400,411 51% Total Budget $ 4,756,411 $ 1,624,490 $ 3,131,921 66% $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Personnel Services and
Supplies
Capital Outlay Internal Services
Rent Stabilization Budget vs. Actuals as of December 31, 2024 Actuals Budget
Rent Stabilization Department Quarterly Budget Update February 20, 2025 Page 3 of 3 Detailed Budget & Expense Worksheet as of December 31, 2024:
Revenue: To date, RSD has collected $3.2M in revenue. Further revenue recognition is anticipated due to 371 properties pending payment, representing 1,319 units or $283k in anticipated revenue. Additionally, there are 438 properties (3,420 units) requiring staff review.
Expenses FY25 Revised Budget FY25 Actuals as of 12/31/24 FY25 Available Percentage Remaining Notes Personnel $ 2,249,582 $ 884,578 $ 1,365,004 61% Services & Supplies $ 1,636,006 $ 327,954 $ 1,308,052 80% Computer Related Supplies $ 275,000 $ 27,840 $ 247,160 90% - Consultant Services $ 344,679 $ 86,301 $ 258,378 75% Allegra ($56k); Bhyv ($30k) Other Contract Services $ 295,000 $ 38,428 $ 256,572 87% Trans.4All ($25k); KPAS ($3.8K); MPI ($3.6K); TU ($3.2K) Outside Legal Services $ 225,000 $ 126,120 $ 98,880 44% Goldfarb & Lipman Lease Payments $ 280,000 $ 21,035 $ 258,965 92% $ 120,000 $ 1,988 $ 118,012 98% PasadenaNow Misc. Expenditures $ 96,327 $ 26,242 $ 70,085 73% CRSN ($7.5k); Supplymates ($7.3k); PRHB ($3.7k) Capital Outlay $ 90,000 $ 31,546 $ 58,454 65% Internal Services $ 780,823 $ 380,412 $ 400,411 51% CAP + IT services Total Budget $ 4,756,411 $ 1,624,490 $ 3,131,921 66%