HomeMy WebLinkAboutG.11 - Mid-Year & Year-End Jun2025CITY OF
GRAND
TERRACE
MID-YEAR &
YEAR-END
BUDGET REVIEWFebruary 11, 2025
2030
VISION
•Goal #1:
Ensuring our Fiscal
Viability through the
continuous monitoring of
revenues & expenditures
against approved budget
allocations.
2
PURPOSE OF REVIEW
•Mid-Year actuals
& Year-end
projections;
•Proposed budget
adjustments for
the current year, if
any;
3
MID-YEAR
ACTUALS
DECEMBER 31,
2024
FY2024-25 ACTUAL REVENUES AS OF 12-31-2024
9
As of December 31, 2024, General Fund operating revenues
received were $3,221,430, or 39.0% of the approved budget of
$8,251,489.
General Fund operating expenditures through December 31,
2024 were $4,468,833, which represents 50.3% of the
approved expenditures of $8,889,426. The approved
expenditures includes $676,208.90 that was carried over from
the prior fiscal year.
9
Approved Budget DEC-2024
Monthly Actuals
REVENUES $8,251,489 $3,221,429
EXPENDITURES (8,889,425)(4,468,833)
NET ($637,936) ($1,247,404)
REVENUE & EXPENDITURES AS OF 12-31-2024
YEAR-END
PROJECTIONS
FY2024-25 PROJECTED REVENUES
9
As of January 31, 2022, General Fund operating revenues
received were $4,139,414, or 47.8% of the approved budget
of $8,654,269.
General Fund operating expenditures through January 31,
2022 are $3,617,338, which represents 53% of the approved
expenditures of the approved budget of $6,822,395.
With 58% of the fiscal year elapsed through January, this
shows a positive result of $339,651 against expected budget
of $3,956,989.
REVENUES Approved
Budget
Year-end
Projection
2017-18
Actuals
Year-end
vs. Appr
Budget
Property Tax $1,980,000 $1,976,300 $1,799,310 $(3,700)
Residual Receipts - RPTTF 1,090,000 1,091,100 1,125,223 1,100
Residual Receipts - Housing 60,000 0 0 (60,000)
Franchise Fees 524,300 515,000 510,761 (9,300)
Licenses, Fees & Permits 419,415 376,080 432,805 (43,335)
Sales Tax 770,000 770,000 773,093 0
Other revenues 310,100 285,200 372,146 (24,900)
Proceeds - Sale of Property 80,000 80,000 0 0
Waste Water Receipts 300,000 318,350 300,000 18,350
OPERATING REVENUES $5,533,815 $5,412,030 $5,313,338 $(121,785)
REVENUES
Approved
Budget
DEC-2024
Monthly Actuals
Year -End
Projection
Variance
(Year-end vs.
Budget)
Property Tax $4,910,000 $1,749,099 $4,948,949 38,949
Franchise Fees 675,000 191,809 695,329 20,329
Licenses, Fees & Permits 658,770 268,575 521,065 (137,705)
Sales Tax 1,360,000 361,896 1,571,896 211,896
Charges for Services 132,500 81,952 122,492 (10,008)
Fines & Forfeitures 39,000 24,907 35,437 (3,563)
Miscellaneous 26,710 18,098 19,614 (7,096)
Use of Money & Property 72,660 95,900 109,620 36,960
Intergovernmental Rev/Grants 58,500 26,369 46,369 (12,131)
Proceeds from Sale of Prop 0 1,325 1,325 1,325
Transfers In 0 0 0 0
Waste Water Receipts 318,349 401,500 401,500 83,151
TOTAL REVENUES $8,251,489 $3,221,430 $8,473,596 $222,107
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FY2024-25 PROJECTED EXPENDITURES
EXPENDITURES Approved
Budget
DEC-2024
Monthly
Actuals
Year-end
Projection
Year-end
vs. Appr
Budget
City Council $115,650 $56,522 $108,897 $6,753
City Manager 1,026,316 424,926 970,794 55,522
City Clerk 355,978 215,249 358,505 (2,527)
City Attorney 185,000 96,869 196,369 (11,369)
Finance 682,162 307,810 683,186 (1,024)
Planning & Dev. Svcs.1,366,671 539,794 1,276,435 90,236
Public Works 1,619,360 939,769 1,982,367 (363,007)
Law Enforcement 2,751,200 1,255,414 2,745,911 5,289
Non-Departmental 787,089 632,479 778,524 8,565
TOTAL EXPENSE $8,889,426 $4,468,833 $9,100,988 ($211,562)
9
FY2024-25 REVENUE & EXPENSE
Approved
Budget
DEC-2024
Actuals
Year-End
Projection
Year-end
vs. Appr
Budget
REVENUE $8,251,489 $3,221,429 $8,473,596 $222,107
EXPENSE (8,889,426)(4,468,833)(9,100,988)($211,562)
NET ($637,937) ($1,247,404) ($627,392)$10,545
FY2024-25 EXPENDITURES
9
As presented above, General Fund operating expenditures through
December 31, 2024 were $4,468,833, which represents 50.3% of
the approved expenditures of $8,889,426.
Expenditures at year-end without the prior year carryover of
$676,209 would be $8,424,779 which includes the $303,471 of
additional expenditures.
WHY EXPENSES ARE REDUCED
9
•Staff is cross-training in order to provide better customer service at the front desk,
reduce overtime and eliminate contract services.
•Security lighting to reduce vandalism.
•Planning and Public Works reduced use of consultants.
•Use of interns for Public Works projects.
•Assigning full costs to developers for environmental studies
FY2024-25 EXPENDITURES
9
With the $303,471 in additional expenditures, the City will do the
following:
Automatic Gate at Pico Park
Automatic Gate at Richard Rollins Park
Tree planting throughout the residential areas
Gated area for staff parking
Improvements at the Senior Center
QUESTIONS?