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Report from the Finance Department on the 2025 First Quarter General Fund Financial Results
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Submitted by:
John Ruggini, Finance Director
Department:
Finance Department
A. Issue
An important component of budget management is monitoring current year expenditures and revenues as compared to budget. In order to facilitate this comparison, the Finance Department produces a quarterly projection of year-end General Fund revenues and expenditure surplus and deficits.
B. Background/Options
In order to monitor expenditures and revenues, a quarterly report is provided to the Financial Affairs Committee. A presentation is attached [NOT YET AVAILABLE] that summarizes the projected year-end General Fund results based on actual performance from January-March 2025.
A stop-light analysis is shown with a positive variance receiving a green light; a negative variance up to 10% would be orange and any variance below negative 10% would be red. In addition, period over period trends would be indicated with an arrow as shown below using 2024 data through October. The legend for the year-over-year trend arrows is also shown below.
In this example, revenues in total based on actuals through October, are projected by year-end to surplus 6.1% (a green light since the percentage is positive) and are $2.2 million above the prior. This 3.2% period over period increase earns a vertical arrow. Under “Law and Ordinance Violations” which is showing red, I’ve drilled down into a lower level of categories to identify where the potential issue is.
EXAMPLE ONLY - NOT ACTUAL DATA
The year over year change icons are based on the following rules:
A presentation with the actual results is attached to this memo and staff will discuss in detail during the meeting.
C. Strategic Plan (Area of Focus)
Financial Resilience
D. Fiscal Impact
Informational only
E. Recommendation
This report is for informational purposes only.