HomeMy WebLinkAboutFin Fiscal Yar 2024-25 Unaudited Results and Budget Amendments PPTFY2024/25 Unaudited Results and
Budget Amendments
September 2, 2025
RECOMMENDATION:
•Accept the report presenting preliminary, Fiscal Year (FY) 2024-25 unaudited financial results for the fiscal year ended June 30, 2025;
•Adopt a resolution adopting amendments to the City of San Rafael budget for FY 2024-25 for the purpose of confirming authorized appropriations and transfers (Attachment 1); and
•Adopt a resolution authorizing amendments to the City of San Rafael budget for FY 2025-26 to reflect carry-over of available unencumbered FY 2024-25 appropriations for specified purposes totaling $14,262,684 (Attachment 2).
Unaudited Year-End All Funds Revenues and Expenditures
Projected FY2024/25 Year-End General Fund Results
(Adjusted for Encumbered and Unencumbered CFWD)
(*) Note: Year-end expenditures include actual expenditures ($110 ,553,601) plus encumbrances
($215,676).
FY 2024-25 General Fund Expenditure Summary
•Personnel Expenditures ended the year almost exactly on budget.
•FY2024-25 budget included a 3% ($2.1 million salary savings estimate
•Result is in contrast to recent years wherein the City saw significant personnel savings due to vacancies
as well as not including salary savings assumption in budgets.
•Non-Personnel expenditures plus encumbrances ended the year $2.1 million below budget; however,
•Of this amount, staff is recommending the carry-over of $1.42 million in appropriations to FY2025-26
•Results shows an overall tightening of the City’s General Fund budget, and reduced flexibility to address
one-time funding needs in future budgets.
Attachment 1
FY2024-25 Year-End Budget Amendments
Attachment 2
FY2024-25 Unencumbered Carry-Over Recommendations
RECOMMENDATION:
•Accept the report presenting preliminary, Fiscal Year (FY) 2024-25 unaudited financial results for the fiscal year ended June 30, 2025;
•Adopt a resolution adopting amendments to the City of San Rafael budget for FY 2024-25 for the purpose of confirming authorized appropriations and transfers (Attachment 1); and
•Adopt a resolution authorizing amendments to the City of San Rafael budget for FY 2025-26 to reflect carry-over of available unencumbered FY 2024-25 appropriations for specified purposes totaling $14,262,684 (Attachment 2).