Title
Fiscal Year 2025 Final Year-End Financial and Performance Measures Report as of June 30, 2025
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council Finance Committee review the Fiscal Year 2025 Year-End Financial and Performance Measures Report as of June 30, 2025. This report is for information only.
BACKGROUND
The City Council adopted the FY 2024 and 2025 General Fund, Parking Fund, Enterprise Funds, and Internal Service Funds budgets on May 15, 2023. The adopted budgets are the annual expenditure and resource appropriation plans guiding and ensuring implementation of City Council policies and priorities. The budget implements the vision and direction for the broad range of services meeting the needs of the community in accordance with City Council policy.
This financial review as of June 30, 2025, provides the Final year-end budget update to the City Council for the prior fiscal year and an update on performance measures. Analysis of the revenues collected and all expenditures through June 30, 2025, measures operational adherence to the budgetary appropriation plan. These final numbers have been subject to the annual audit process, resulting in the Annual Comprehensive Financial Report (ACFR). The ACFR will be presented to the Finance Committee on January 28, 2026, and presented to the full City Council for acceptance at a regularly scheduled meeting in February 2026.
DISCUSSION
The revised City budget for FY 2025 was adopted on May 20, 2024. The amended budget incorporates estimated revenues and planned expenditures for all funds. The attached Final Year-End Financial Report as of June 30, 2025 (Attachment A), provides the revenue and expenditure summary for the General Fund, Parking Fund, Enterprise Funds, and Internal Service Funds. The detailed discussion offers comparisons to the prior year and focuses on variances in the revenue and expenditure plans and appropriations contemplated in the budget.
General Fund
Th...
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