TO: Mayor and City Council
FROM: Philippe Eskandar, City Manager
BY: Hillary Guirola-Leon, Finance Director
Mark Siegfried, Accounting Manager/Controller
DATE: February 28, 2025
SUBJECT: RECEIVE AND FILE FINANCIAL REPORT FOR SECOND
QUARTER (OCTOBER 2024 THROUGH DECEMBER 2024)
STRATEGIC PLAN CRITICAL SUCCESS FACTORS
Fiscally Responsible and Transparent City Government
BACKGROUND
The following presents the financial activity of the City for the quarter ended December 31, 2024, as well as the fiscal year-to-date financial information.
These figures are unaudited and have been compiled by the Finance Department. Financial information as noted at December 31, 2023, has been included for comparative purposes.
DISCUSSION
During the Second Quarter of 2025 (October 2024 through December 2024), General Fund revenues increased by $1.13M or 11% versus the Second Quarter of 2024. Property Tax revenues increased by 4.5% as compared to prior year quarter. This 4.5% growth compares favorably with 4% growth projection used for the FY 2024-25 budget.
Utility User Tax revenues increased by $95k (17%) from prior year quarter.
Another reason for the increase in revenue from last year is due to the onetime transfer of Prop A Metro funds to the City of Pasadena for General Fund monies ($750,000).
Total General Fund expenses for the quarter increased by $780K or 24% Gretchen Shepherd Romey, Mayor
Tony Chou, Vice Mayor
Hunter Chang, Council Member
John Chou, Council Member
Calvin Lo, Council Member
compared to last year. The increase is primarily due to negotiated salary increases and low turnover noted in personnel as departments are near fully budgeted staffing levels.
Additional second quarter details are provided in the tables below.
Second Quarter 2025 versus Second Quarter 2024 Financial Information
Below are the revenues and expenditures for the General Fund (Fund 101), the Public Safety Fund (Fund 103), and all of the Special Revenue Funds.
QUARTERLY FINANCIAL REPORT
GOVERNMENTAL FUNDS (UNRESTRICTED)
General Fund (101) Second Quarter Second Quarter
Revenues 2025 2024 $$$ %
Taxes 9,080,025 8,664,246 415,779 4.8% Note 1
Licenses & Permits 442,651 190,246 252,405 132.7% Note 2 Charges for Service 330,438 298,068 32,371 10.9% Note 3 Intergovernmental - - 0
Fines & Forfeitures 20,316 250 20,066 8026.4%
Money & Property 21,740 319,380 (297,640) -93.2% Note 4 Miscellaneous 751,500 42,236 709,263 1679.3%
General Fund Total Revenues 10,646,669 9,514,425 1,132,244 11.9% Second Quarter Second Quarter
Expenses 2025 2024 $$$ %
City Council 2,662 735 1,927 262.0%
City Attorney 119,644 48,055 71,589 149.0%
Non-Departmental 634,513 529,888 104,625 19.7%
City Manager's Office 194,888 185,012 9,875 5.3%
Human Resources 246,849 105,440 141,408 134.1%
Finance Department 186,628 167,705 18,924 11.3%
Community Development 527,600 434,718 92,883 21.4%
Emergency Services 5,807 9,236 (3,428) -37.1%
Parks and Public Works 1,275,493 997,388 278,104 27.9%
Recreation Department 462,311 423,232 39,079 9.2%
Library Department 351,403 326,105 25,298 7.8%
El Molino Viejo - - - 0.0%
General Fund Total Expenses 4,007,799 3,227,514 780,286 24.2% Note 5 Net Income-General Fund 6,638,870 6,286,911 351,958 5.6% Public Safety Fund (103) Second Quarter Second Quarter
Revenues 2025 2024 $$$ %
Taxes 1,480,847 1,472,216 8,630 0.6%
Charges for Service 211,106 252,268 (41,162) -16.3%
Intergovernmental 2,075 20,003 (17,928) -89.6%
Fines & Fees 31,511 33,666 (2,155) -6.4%
Miscellaneous 1,215 1,108 107 9.6%
1,726,754 1,779,261 (52,508) -3.0% Note 6
Second Quarter Second Quarter
Expenses 2025 2024 $$$ %
Police Department 1,767,429 1,778,233 (10,804) -0.6%
Fire Department 1,417,685 1,327,576 90,108 6.8%
3,185,114 3,105,809 79,304 2.6% Note 7
Net Income-Public Safety Fund (1,458,360) (1,326,548) (131,812) -9.9%
SPECIAL REVENUE FUNDS (RESTRICTED)
Second Quarter Second Quarter
2025 2024 $$$ %
Revenues 1,025,837 711,598 314,238 44.2%
Expenses 1,119,048 120,608 998,439 827.8% Note 8
Net Income-Special Revenue Funds (93,211) 590,990 (684,201) -115.8% Total Revenues-All Funds 13,756,426 12,189,888 1,566,539 12.9% Total Expenses-All Funds 10,020,691 7,566,335 2,454,356 32.4% Net Income-All Funds 3,735,736 4,623,553 (887,817) -19.2% CY vs PY
CY vs PY
CY vs PY
CY vs PY
CY vs PY
Items of Note:
1. Increase in Taxes is due to Property Taxes increasing by $344k (4.5%).
Utility Users Tax Revenue has also increased as compared to prior year by $96K (17%).
2. Increase in Licenses & Permits is due to Building Permits increasing by $225K compared to last year.
3. Increase in Charges for Service of $32k is due to Plan Check Fees Revenue increasing by $22k compared to prior year.
4. Change in Money & Property is due to fluctuations of the market value of the City’s investments and interest rates increasing.
5. Overall increase in Non-sworn Department expenses of $780k (24%) compared to the prior year. Increase is due to cost-of-living adjustments of 4% related to salaries as stipulated in the various MOUs with city employees.
The year-to-date actuals are trending in line with the budgeted amounts as there has been limited staff turnover.
6. Overall, the revenues in the Public Safety Fund 103 are trending the same as prior year. Minimal fluctuations are due to timing of reimbursements.
7. Increase in Sworn Department expenses of $79k (or 2.6%) is due to CPI increases related to materials and supplies as well as cost of living adjustments related to salaries.
8. Increase in expenditures related to Special Revenue Funds is due to the one-time transfer of Prop A Metro funds to the City of Pasadena ($1M).
December 2025 YTD versus December 2024 YTD Financial
Information
Below are the revenues and expenditures for the General Fund (Fund 101), the Public Safety Fund (Fund 103), and all of the Special Revenue Funds.
QUARTERLY FINANCIAL REPORT
GOVERNMENTAL FUNDS (UNRESTRICTED)
General Fund (101)
Revenues YTD PY YTD $$$ %
Taxes 10,264,248 9,708,557 555,691 5.7% Note 1
Licenses & Permits 774,669 497,737 276,932 55.6% Note 2 Charges for Service 662,015 569,380 92,635 16.3% Note 3 Intergovernmental - - 0
Fines & Forfeitures 1,290 375 915 244.0%
Money & Property 444,222 430,999 13,224 3.1% Note 4
Miscellaneous 754,719 48,591 706,127 1453.2% Note 5
General Fund Total Revenues 12,901,163 11,255,639 1,645,523 14.6% Expenses YTD PY YTD $$$ %
City Council 17,465 14,850 2,615 17.6%
City Attorney 136,927 66,880 70,047 104.7%
Non-Departmental 1,739,928 803,240 936,689 116.6%
City Manager's Office 374,156 390,380 (16,224) -4.2%
Human Resources 374,972 238,851 136,120 57.0%
Finance Department 378,058 424,314 (46,256) -10.9%
Community Development 1,041,763 991,900 49,863 5.0%
Emergency Services 20,569 21,208 (639) -3.0%
Parks and Public Works 2,126,509 1,947,795 178,714 9.2% Recreation Department 1,024,725 993,762 30,963 3.1%
Library Department 693,965 761,930 (67,964) -8.9%
El Molino Viejo 60,000 - 60,000 0.0%
General Fund Total Expenses 7,989,036 6,655,108 1,333,927 20.0% Note 6 Net Income-General Fund 4,912,127 4,600,531 311,596 6.8% Public Safety Fund (103)
Revenues YTD PY YTD $$$ %
Taxes 1,496,071 1,487,674 8,397 0.6%
Charges for Service 381,605 426,252 (44,647) -10.5%
Intergovernmental 7,128 21,193 (14,065) -66.4%
Fines & Fees 44,195 45,524 (1,329) -2.9%
Miscellaneous 3,580 4,484 (905) -20.2%
1,932,580 1,985,128 (52,548) -2.6% Note 7
Expenses YTD PY YTD $$$ %
Police Department 4,909,125 4,501,832 407,293 9.0%
Fire Department 4,142,032 3,820,878 321,154 8.4%
9,051,157 8,322,710 728,447 8.8% Note 8
Net Income-Public Safety Fund (7,118,577) (6,337,582) (780,996) -12.3%
SPECIAL REVENUE FUNDS (RESTRICTED)
YTD PY YTD $$$ %
Revenues 1,383,501 1,066,023 317,479 29.8%
Expenses 1,275,836 141,442 1,134,394 802.0% Note 9
Net Income-Special Revenue Funds 107,665 924,581 (816,916) -88.4% Total Revenues-All Funds 16,799,663 14,708,382 2,091,281 14.2% Total Expenses-All Funds 22,016,362 19,743,978 2,272,384 11.5% Net Income-All Funds (5,216,699) (5,035,596) (181,103) -3.6% CY vs PY
CY vs PY
CY vs PY
CY vs PY
CY vs PY
Items of Note:
1. Increase in Taxes is due to Property Taxes increasing by $360k (4.4%).
Utility Users Tax Revenue has also increased as compared to prior year by $181K (20%).
2. Increase in Licenses & Permits is due to Building Permits increasing by $282K compared to last year.
3. Increase in Charges for Service of $93k is due to Plan Check Fees increasing by $47k compared to prior year. Code Enforcement Citation Fees have also increased by $19k compared to prior year.
4. Change in Money & Property is due to fluctuations of the market value of the City’s investments and interest rates increasing.
5. Miscellaneous Revenues have increased by $706k from prior year due to one-time transfer of Prop A Metro funds to the City of Pasadena.
6. Overall increase in Non-sworn Department expenses of $1.3M (20%) compared to the prior year. Increase is due to cost of living adjustments of 4% related to salaries as stipulated in the various MOUs with city employees.
The year-to-date actuals are trending in line with the budgeted amounts as there has been limited staff turnover. The increase is also due to an increase in the pension required unfunded accrued liability (UAL) payment of $158K.
7. Overall, the revenues in the Public Safety Fund 103 are trending the same as prior year. Minimal fluctuations are due to timing of reimbursements.
8. Increase in Sworn Department expenses of $728k (or 8.8%) is due to CPI increases related to materials and supplies as well as cost of living adjustments related to salaries. The increase is also due to an increase in the pension required unfunded accrued liability (UAL) payment of $405K. Overall, there is 47% of the budget remaining at December 2024. Overtime costs in the Fire Department are trending higher than budgeted as of December 2024.
The increase in overtime costs is due to shift coverage and a vacancy in the department.
9. Increase in expenditures related to Special Revenue Funds is due to the one-time transfer of Prop A Metro funds to the City of Pasadena ($1M).
All Funds Revenue Summary at December 31, 2024
In the next summary, budgeted revenues are shown against actual revenue at December 31, 2024, and in comparison to the prior year at this same time period.
Adopted Year-to-Date Increase/(Decrease) Prior Year
Budget Actual % v. Prior Year Actual
General Funds Group
General Fund 30,388,888 12,901,163 42% 1,645,523 11,255,639 Public Safety Fund 4,669,994 1,932,580 41% (52,548) 1,985,128 Fourth ofJuly 75,425 53,223 71% 5,678 47,545
San Marino Center 0 0 0% 0 0
American Rescue Plan 401,406 0 0% 0 0
Donations to City 117,600 127,722 109% 97,077 30,645
Total General Fund 35,653,313 15,014,687 42% 1,695,730 13,318,957 Special Revenue Funds
Gas Taxes 674,428 293,911 44% 33,468 260,443
CDBG 360,406 2,870 1% 2,869 1
County Park Prop A 0 0 0% 0 0
Prop A Transit 427,314 195,115 46% 1,218 193,897
Drought 1,000 884 88% 198 685
Air Quality (AQMD) 19,000 4,416 23% (1,333) 5,749
STPL 210 95 45% 21 74
TDA 19,340 27 0% (262) 288
Prop C Transit 326,770 157,792 48% 6,980 150,811
PEG Fees 51,000 23,522 46% 9,068 14,454
Asset Forfeiture 3,200 1,450 45% 326 1,124
Granada Ave. 0 0 0% 0 0
Used Oil Grant 1,200 406 34% (18) 424
OTS Gant 20,760 (893) -4% (893) 0
Recycling 103,000 5,507 5% 1,237 4,270
Bodyworn Camera Grant 61,948 0 0% 0 0
COPS 236,000 190,268 81% 10,585 179,684
Homeland Security Grant 0 0 0% 0 0
County Measure R 521,077 90,412 17% (14,216) 104,629
Measure W 292,000 258,290 88% 242,579 15,711
County Measure M 296,054 159,431 54% 25,652 133,778
Total Special Revenue Funds 3,414,707 1,383,501 41% 317,479 1,066,023 Capital Project Fund
Capital Projects 25,000 0 0% 0 0
Internal Service Fund
Capital Equipment 728,456 393,187 54% 75,389 317,798
Total Internal Service Funds 728,456 393,187 54% 75,389 317,798 Fiduciary Fund
Agency Fund 0 8,287 0% 2,683 5,604
Total All Revenue 39,821,476 16,799,663 42% 2,091,281 14,708,382 All Revenue by Fund
For Quarter Ended December 31, 2024 -- 50% of Fiscal Year Complete All Funds Expenditure Summary at December 31, 2024
In the next summary, budgeted expenditures are shown against actual expenditures at December 31, 2024, and in comparison to the prior year at this same time period.
Adopted Year-to-Date Increase/(Decrease) Prior Year
Budget Actual % v. Prior Year Actual
General Funds Group
General Fund 16,587,320 7,989,036 48% 1,333,927 6,655,108 Public Safety Fund 16,927,552 9,051,157.07 53% 728,447 8,322,710 Fourth ofJuly 122,594 71,151.10 58% 6,312 64,839
San Marino Center - - 100% - -
Donations to City 145,241 21,541.31 15% 5,755 15,787
American Rescue Plan - - 0% (6,236) 6,236
Workers' Compensation 721,135 948,206.50 131% 387,405 560,802 General Liability 976,323 975,575.00 100% 209,021 766,554 Total General Fund 35,480,165 19,056,667 54% 2,664,632 16,392,035 Special Revenue Funds
Gas Taxes 1,231,053 - 0% (43,947) 43,947
CDBG 360,406 6,749.00 2% 5,550 1,199
County Park Prop A - - 100% - -
Prop A Transit 1,471,695 1,082,148.34 74% 1,065,648 16,500 Air Quality 43,000 42,999.98 100% (15,782) 58,782
Drought - - 0% - -
STPL - - 0% - -
TDA 19,000 19,000.00 100% - 19,000
Prop C Transit 650,000 - 0% - -
OTS Grant - 9,325.74 0% 7,311 2,015
Used Oil Grant - 10,756.54 0% 10,757 -
CADept of Conservation Fund 91,000 - 0% - -
Bodyworn Camera Grant 61,948 - 0% - -
COPS 431,169 81,928.71 19% 81,929 -
Homeland Security Grant - - 0% - -
County Measure R 755,000 574.75 0% 575 -
Measure W Clean Water Fund 267,418 22,353.25 8% 22,353 - County Measure M 1,225,000 - 100% - -
Total Special Revenue 6,606,689 1,275,836 19% 1,134,394 141,442 Capital Projects Funds
Capital Projects 13,844,331 1,385,149.72 10% (1,154,543) 2,539,693 Debt Service Funds
Debt Service - - 0% (574,888) 574,888
Internal Service Funds
Capital Equipment 820,379 298,709.43 36% 202,789 95,920 Total Expenditures 56,751,564 22,016,362 39% 2,272,384 19,743,978 All Expenditures by Fund
For Quarter Ended December 31, 2024 -- 50% of Fiscal Year Complete
FISCAL IMPACT & PROCUREMENT REVIEW
This report possesses no fiscal impact and requires no procurement review.
LEGAL REVIEW
The City Attorney's office has reviewed and approved as to form.
RECOMMENDATION
Staff recommends that Council receive and file this report. If the City Council concurs with staff’s recommendation, an appropriate motion would be:
“I move to receive and file the financial report reflecting the City’s revenues and expenditures as of December 31, 2024.”
ATTACHMENTS
1. Revenue Summary Report at December 31, 2024
2. Expenditure Summary Report at December 31, 2024