CC - Item 5A - Mid-Year Budget 2025-2026 PresentationCity of Rosemead
2
•General Fund – Revenue Collections are 27% received at 50% of year
– Prior Year 26% at 50% of year
•General Fund – Appropriations are 45% expended at 50% of year
– Prior Year 44% at 50% of year
•$1.3 M anticipate General Fund surplus by year-end
SUMMARY FY 2024-25
Total Budget
FY 2024-25
YTD Activity
Through Dec
%
Rec'd
Thru
DEC
FY 2024-25
Actuals
FY 2025-26
Total Budget
FY 2025-26
YTD Activity
Through Dec
%
Rec'd
Thru
DEC
Year End
Estimate
Revenue 31,123,100 8,091,300 26%33,198,221 32,188,700 8,734,900 27%33,298,300
Transfer In 480,414 - 0%480,414 - - 0%-
Total Revenues 31,603,514 8,091,300 26%33,678,635 32,188,700 8,734,900 27%33,298,300
Approp/Exp 30,743,700 13,879,200 45%30,266,459 32,123,280 14,586,600 45%31,965,200
Transfer Out 850,000 0%850,000 - - 0%-
Capital Impr 214,915 0%- 60,000 - 0%60,000
Total Expenses 31,808,615 13,879,200 44%31,116,459 32,183,280 14,586,600 45%32,025,200
Net Rev (Exp)(205,101) (5,787,900) 2,562,176 5,420 (5,851,700) 1,273,100
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•Reserve Policy - 40% of budget expenditures = $12.8 million
•Estimated ending unassigned fund balance of $25.5 million
•Financially positioned to weather potential economic downturns
Estimate
FY 22 FY 23 FY 24 FY 25 FY 26
Fund Balance 28,556,266 32,430,433 34,465,908 37,028,084 38,301,178
Dollar ($) Change 2,968,654 3,874,167 2,035,475 2,562,176 1,273,094
Percentage (%) Change 6%14%6%7%3%
Actuals
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✓FY 2025-26 Estimated Revenue nearly $1.1 million more than Budget
✓Estimated taxes received by fiscal year end are expected to be $225,000 higher
than budget.
✓Building Permits are trending higher than the same period last fiscal year and are
estimated to reach $3.5 million by fiscal year end which is $800 thousand over
budget.
Revenue by Category FY 2025-26
Total Budget
FY 2025-26
YTD Activity
Through Dec
% Rec'd
Thru DEC
Year End
Estimate Difference
Taxes 24,531,900 4,665,768 19%24,757,192 225,292
Intergovernmental 379,600 349,709 92%443,650 64,050
Licenses and Permits 3,323,500 2,418,610 73%3,979,348 655,848
Fines and Forfeitures 651,800 367,310 56%667,682 15,882
Use of Money and Property 1,550,000 270,954 17%1,618,202 68,202
Charges for Services 1,284,000 567,835 44%1,363,566 79,566
Other Revenue 467,900 94,668 20%468,662 762
Total - Gen'l Fund Operating Rev 32,188,700 8,734,854 27%33,298,302 1,109,602
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✓Most of the major tax revenues are trending higher.
Revenue Source
FY 2021-22
Actuals
FY 2022-23
Actuals
FY 2023-24
Actuals
FY 2024-25
Actuals
FY 2025-26
Budget
Year End
Estimate
Property Taxes 3,539,858 3,904,484 3,943,707 4,241,772 4,167,500 4,266,803
Property Tax In Lieu/VLF 7,374,651 7,763,925 8,201,816 8,620,915 8,804,600 9,073,000
Sales and Use Tax 6,889,892 7,369,300 6,999,889 7,106,216 7,198,500 7,170,500
Transient Occ Tax 2,097,700 2,312,408 2,238,353 2,320,163 2,361,000 2,274,342
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✓Fees for building permits and plan checks are expected to be roughly the same as
the prior fiscal year.
✓Interest earnings are anticipated to decline due to lower interest rate yields.
✓Parks and Recreation revenues are expected to be roughly the same as the prior
fiscal year.
Revenue Source
FY 2021-22
Actuals
FY 2022-23
Actuals
FY 2023-24
Actuals
FY 2024-25
Actuals
FY 2025-26
Budget
Year End
Estimate
Building Permits/Plan Check 2,502,684 3,853,891 2,875,622 3,454,460 2,700,000 3,500,000
Interest Earnings 3,710 846,785 1,598,771 1,700,441 1,150,000 1,400,000
Parks and Recreation 565,116 889,464 1,001,067 1,018,982 1,009,300 1,024,000
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•Appropriations are 45% expended at
half-way point (50%) of the fiscal year
−44% last year same period
•Year end estimate – 99% expended
−98% Budget to Actual in 2025
•City Attorney – trending lower than
last year.
•City Clerk – 70% expended
•Insurance payments
•Public Safety (43%) – Costs for LASD
contract svcs represents only 5 months
•Community Development (36%) –
timing of projects
•All other departments are close to
50% spend at the half-way point and
are estimated to be within budget by
the end of the fiscal year.
Expenditures by Category
FY 2025-26
Total Budget
FY 2025-26
YTD Activity
% Exp'd
Thru Dec
Salaries and Benefits 11,289,000 5,523,581 49%
Operations & Maint 20,834,280 9,063,038 44%
Capital Assets & Transfers 60,000 - -
General Fund Exp by Category 32,183,280 14,586,619 45%
Expenditures by Department
FY 2025-26
Total Budget
FY 2025-26
Thru Dec
% Exp'd
Thru Dec
City Council / Commissions 612,100 275,732 45%
City Attorney 349,600 94,235 27%
City Clerk 1,259,200 885,450 70%
Administration 1,664,400 808,220 49%
Finance 1,026,000 495,544 48%
General Services 1,046,200 562,663 54%
Public Safety 13,858,900 5,933,304 43%
Public Works 4,204,200 1,987,055 47%
Parks & Recreation 5,007,180 2,421,787 48%
Community Development 3,095,500 1,122,629 36%
Capital Proj 60,000 - 0%
General Fund Exp by Dept 32,183,280 14,586,619 45%
FY 2025-26 Mid-Year Budget Review