CITY OF SANTA MARIA
MEASURE U FUND
FINANCIAL STATEMENTS
YEAR ENDED JUNE 30, 2025
ATTACHMENT B
CITY OF SANTA MARIA
MEASURE U FUND
See accompanying Notes to Financial Statements.
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BALANCE SHEET
JUNE 30, 2025
General
ASSETS
Cash and Investments
$ 4,089,443
Accounts Receivable 4,231,203
Prepaid Items 2,030
Total Assets 8,322,676
LIABILITIES AND FUND BALANCES
Accounts Payable (5,590)
Accrued Liabilities 0
Total Liabilities (5,590)
Fund Balances:
Restructured 6,131,206
Total Fund Balances 6,131,206
Total Liabilities and Fund Balances $ 6,125,616
CITY OF SANTA MARIA
MEASURE U FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES See accompanying Notes to Financial Statements.
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FISCAL YEAR ENDED JUNE 30, 2025
General
REVENUES
Sales Tax
$ 25,739,345
Use of Money and Property 206,990
Total Revenues 25,946,335
5EXPENDITURES
Legal
-
City Manager 882,033
Library 982,789
Finance
Recreation and Parks 2,793,260
Fire 11,576,844
Police 12,819,252
Community Development 821,120
Total Expenditures 29,875,299
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (3,928,964) Fund Balance - Beginning of Year 12,583,667
FUND BALANCE - END OF YEAR $ 8,654,70 3
CITY OF SANTA MARIA
MEASURE U FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES See accompanying Notes to Financial Statements.
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BUDGET TO ACTUAL
FISCAL YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
EXPENDITURES
City Manager:
Salaries and Wages 155,413 155,413 0
Contracts and Services 73,000 19,238 53,762
Capital 1,200,000 700,420 499,580
Cost Allocation Transfer-Out 6,807 6,807 0
Total City Manager 1,435,220 881,877 553,343
Finance:
Contracts and Services 2,757 157 2,600 Total Finance 2,757 157 2,600
Library:
Salaries and Wages
757,391
757,391
-
Materials and Supplies
67,053 55,977 11,076
Contracts and Services 28,317 20,417 7,900
Capital 45,000 32,057 12,943
Cost Allocation Transfer Out 116,948 116,948 0
Total Library 1,014,709 982,789 31,920
Recreation and Parks:
Salaries and Wages
2,301,677
2,065,224
236,453
Materials and Supplies 177,975 35,247 142,728
Equipment and Operations 116,068 116,448 (380)
Contracts and Services 246,673 92,337 154,336
Capital 197,019 34,294 162,725
Cost Allocation Transfer-Out 449,709 449,709 0
Total Parks and Recreation 3,489,121 2,793,260 695,861
Final Budget
Actual
Positive
(Negative)
REVENUES
Sales Tax
$ 26,544,951
$ 25,739,345
$ (805,606)
Use of Money and Property 171,354 206,990 35,636
Total Revenues 26,716,305 25,946,335 (769,970)
CITY OF SANTA MARIA
MEASURE U FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES See accompanying Notes to Financial Statements.
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BUDGET TO ACTUAL (CONTINUED)
FISCAL YEAR ENDED JUNE 30, 2025
Variance with
Final Budget
Positive
Final Budget Actual (Negative)
EXPENDITURES (CONTINUED)
Fire:
Salaries and Wages $ 9,935,596 $ 10,172,049 $ (236,453) Materials and Supplies 99,902 94,532 5,370
Equipment and Operations 553,718 554,083 (365)
Contracts and Services 1,092,422 138,507 953,915
Capital 5,916,136 276,360 5,639,775
Cost Allocation Transfer-Out 341,312 341,312 0 Total Fire 17,939,086 11,576,844 6,362,242
Police:
Salaries and Wages 10,940,223 10,940,223 0
Materials and Supplies 76,732 67,663 9,069
Equipment and Operations 916,393 920,203 (3,810)
Contracts and Services 532,222 508,224 23,998
Capital 73,884 52,719 21,164
Cost Allocation Transfer-Out 330,220 330,220 0 Total Police 12,869,674 12,819,252 50,422
Community Development:
Salaries and Wages
743,662
743,662
0 Equipment and Operations 79,999 76,832 3,167
Contracts and Services 626 626 0
Total Community Development 824,287 821,120 3,167
Total Expenditures 37,574,854 29,875,299 7,699,555 NET CHANGE IN FUND BALANCES $ (10,858,549) $ (3,928,964) $ 6,759,536
Fund Balances - Beginning of Fiscal Year
$ 8,654,703
CITY OF SANTA MARIA
MEASURE U FUND
NOTES TO FINANCIAL STATEMENTS
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JUNE 30, 2025
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
In a June 5, 2012 election, City of Santa Maria (City) voters approved Measure U, establishing a temporary quarter-cent transaction sales and use tax. The Measure U Fund (Fund) was established to accumulate revenues transmitted by the State Board of Equalization (BOE), the agency responsible for administering and collecting the transactions and use taxes for the City at that time and apportion them to essential services outlined within the approved expenditure plan. In 2017 administration of transaction and use tax was transferred to the California Department of Tax and Fee Administration (CDTFA).
In the November 2018 election, City voters approved to extend and enhance Measure U at a one cent rate. The rate became effective April 1, 2019.
The financial statements presented only the activity of the Measure U Fund and are not intended to present the financial position and changes in financial position of the City of Santa Maria, in conformity with accounting principles generally accepted in t he United States of America.
B. Basis of Accounting
The Measure U Fund of the City is maintained on the modified accrual basis of accounting.
As such, revenues are recognized when they become susceptible to accrual, that is, when they become both measurable and available to finance expenditures of the current period.
Expenditures are recognized in the accounting period in which the liability is incurred (when goods are received or services rendered).
C. Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
NOTE 2 CASH AND INVESTMENTS
Cash and investments at June 30, 2025, consist of the following:
Pooled Cash and Investments with the
City of Santa Maria
$ 4,089,443
Please refer to the notes of the City’s June 30, 2025 Annual Comprehensive Financial Report regarding cash and investments for additional detail.