City of Rialto
FISCAL YEAR 2024-2025
Mid year budget update
Council meeting
March 25, 2025
2 Agenda
City of RialtoFY 2024-25 Mid Year Budget Update
Update and review through December 31:
General Fund Overview
General Fund YTD Revenue
General Fund YTD Expenses
Department Personnel Requests
Discussion and Council Direction
3 General Fund Review
City of RialtoFY 2024-25 Mid Year Budget Update
Unrestricted Fund Balance
FY2022-23 - $59,753,970
FY2023-24 - $68,196,500
Unaudited Preliminary
4 General Fund Reserves
City of RialtoFY 2024-25 Mid Year Budget Update
Approximately $68 million at the end of FY 24
$30 million transfer to RUA in FY 25
Potential Restriction of General Fund Reserves:
$5 million future City Hall
$10 million toward Capital Improvement Fund
Other Council Recommendations
Discussion and Council Direction
5 FY2024-25 – General Fund Revenue
City of RialtoFY 2024-25 Mid Year Budget Update
*Revenues accounting for revenues received following months due to timing to reflect accurately
6 FY2024-25 – General Fund Expenses
City of RialtoFY 2024-25 Mid Year Budget Update
Personnel – 67%
Other Operating Expenditures– 33%
7 Department Personnel Requests
City of RialtoFY 2024-25 Mid Year Budget Update
8 Conclusion
City of RialtoFY 2024-25 Mid Year Budget Update
Audit firm on site March
Final 2023-24 report expected May
Questions and discussion
Further Direction and Next Steps
New positions
Coming Soon
Fiscal Year 2025-2026 Budget Workshop & Preparation