CC - Item 5A - PowerPoint Presentation - Mid-Year Budget 2024-25NIFofRnsemead
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4=25 MIB-YEAR OVERVIEW o GEN'L
FY2023-24 Reed FY2024-25 Rec'd
SUMMARY FY2023-24 YPD Activity Thm FY2023-24 FY2024-25 YTD Activity Thm YearFnd
Total Budget Through Dec DEC Actuals Total Budget Through Dec DEC Estimate
Revenue 30,120,000 7,751,784 26% 31,316,757 31J23J00 8n091n300 26% 31,603,100
Transfer In 1,800,000 - 0% 1,800,000 480414 - 0% 480,400
Approp/Exp 29,437,800 12,612,013 43% 2$021,282 30,743,700 13,879,200 45% 29,132,600
Transfer Out 3,000,000 0% 3,000,000 850,000 - 0% 850,000
Capital Impr 274,915 0% 60,000 214,915 - 0% 214,900
Net Rev (Exp) (792,715) (4,860 229) 2,035,475 (205,101) (5,787,900) 1,886,000
• General Fund — Revenue Collections are 26% received at 50% of year
— Prior Year 26% at 50% of year
• General Fund — Appropriations are 45% expended at 50% of year
— Prior Year 43% at 50% of year
• $1.9M anticipate General Fund surplus by year-end
GENERAL
FUND =
FUND
BALANRE TR
Actuals
Estimate
FY 21
FY 22
FY 23 FY 24
FY 25
Fund Balance
25/587/612
28/556/266
32/430/433 34/465/908
36/351/908
Dollar ($) Change
1/379/131
2/968/654
3/874/167 2/005/100
1/886/000
Percentage(%) Change
6%
12%
14% 6%
5%
• 40% of budget expenditures = $12.7 million
• Estimated ending unassigned fund balance of $23.6 million
0
• Financially positioned to weather potential economic downturns
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Revenue by Category
Fy202q-25
Total Budget
FY 2024-25
yTD Activ ity
Through Dec
%Reed
Thru DEC
Year Fnd
Estimate
Difference
Taxes
24,047,800
4,671,079
19%
23,779,000
(26$800)
Intergovernmental
372,500
265,033
71%
438,700
66,200
Licenses and Permits
3,293,800
1,875,650
57%
3,494,400
200,600
Fines and Forfeitures
648,900
283,663
44%
648,900
-
UseofMoneyandProperty
1,20Q,000
321,464
27%
1,51$100
31$100
Charges for Services
1,153,500
573,116
50%
1,276,600
123,100
Other Revenue
406,600
101,336
25%
447,400
40,800
Total-Gen'1 Fund Operating Rev
31,123,100
8,091,341
26%
31,603,100
480,000
✓ FY 2024-25 Estimated Revenue nearly $480,000 more than Budget
✓ Increased Property Taxes in Lieu of Vehicle License Fees offset by decreases in
sales and use taxes.
✓ Building Permits are trending about the same as last fiscal year during the same
period and are estimated to reach $2.9 million by fiscal year end.
✓ Increase in Use of Money and Property are largely do to anticipated estimated
interest earnings on investments in the amount of $1.3 million dollars which is $485
thousand over budget.
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10
c
o
Y FY 2020.21 Actuals
$
� FY 2021-22 Actuals
6
4
� FV 2022-23 Actuals
2
� FY 2023-24 Actuals
_
� FY 2624-25 Budget
Property Taxes
Property Tax In Sales and Use
Transient Occ
o year End Estimate
Lieu/VLF Tax
Tax
Revenue Source
-
-
PfopeftyTaXes
3,463,820
3,639,868
3,904,484
3,943,707
4,026,400
4,101,900
Pfopefty TaX In LIeu�V LF
7,200,303
7,374,661
7,763,926
8,201,816
8,606,900
8,620,900
Sales and Use TaX
6,634,244
6,889,892
7,369,300
6,999,889
7,333,200
6,881,400
Tfanslent Occ TaX
1,406,397
2,097,700
2,312,408
2,238,363
2,361,000
2,228,800
✓ Most of the major tax revenues are trending higher.
✓ Slight dip in sales and use tax relating to general weakness in sales
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s
c 4 � FV 262621 Actuals
4 ■ FV 2621-22 Actuals
3
3 ■ FV 2622-23 Actuals
2 � FV 262}24 Actuals
2
1 ■ FV 2624-25 Budget
1 o Vear End Estimate
Building Permits/%an Check Interest Earnings Parks and gecmation
Revenue Source
Bull ding Pe rmitS�Plan Check 1,915,370 2,502,684 3,853,891 2,875,622 2,700,000 2,900,600
Interest Ea rnings
34,079
3,710
846,785
1,598,771
800,000
1,285,000
Parks and Re cre atlon
144,253
565,116
889,464
1,001,067
907,900
1,057,300
✓ Fees for building permits and plan checks are expected to be roughly the same as
the prior fiscal year.
✓ Interest earnings continuing to see an increase due to higher interest rate yields
along with a rebalancing of the City's management investment portfolio.
✓ Parks and Recreation is continuing its recovery post pandemic.
MI®�Y�� ��FI���L �11N� �I(��N�I�U�
BY DEPARTMENT
FV 2024-25
FV 202425 VTD Activity
Budget &Expenditures by
Total
Through
%Exp'd
Department
Budget
Dec
Thru oec
City Council/Commissions
559,900
241,440
43%
City Attorney
349, 600
193,415
55%
City Clerk
1,243,600
843,872
68%
Administration
1,692,400
834,255
49%
Finance
1,066,600
548,833
51%
General Services
1,120,300
601,702
54%
Public Safety
13,097, 700
5,414,082
41%
Public Works
4,442,800
1,971,849
44%
Parks&Recreation
4,553,500
2,208,130
48%
Community Development
2,6ll,300
1,021,663
39%
General Fund Exp by Dept 30,743, 700 13,879,241 45%
BY CATEGORY
Salaries and Benefits
10,974, 800
5,240,045
48%
Operations&Maint
19,768, 900
8,639,196
44%
Capital Assets &Transfers
1, 064, 915
-
General Fund Exp by Category 31,808, 615 13,879,241 44%
Appropriations are 45% ezpended at
half -way Point (50%) of the fiscal Year
- 43%last Year same period
Vear end estimate - 95 % ezpended
- 95% Budget to Actual in 2023
City Clerk-68% ezpended
• irewance payments
Public Safety (41%) -Costs for LASD
contract secs represents only 5 months
Com munitY Development (39%) -
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.
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• Recommend budget adjustments to Public Facilities Internal Service
Fund (Fund 510).
• Public Safety Center- Camera System Upgrade Project- $58,906.50
Council approved contract with HC1E for this project on January 28z^, 2025.
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Organizational Restructuring
❑ Proposed Position Change: Replace the title of the Assistant City
Manager position with Assistant City Manager/Finance Director.
❑ Expanded Responsibilities: Manages the Finance Department while
overseeing Human Resources, Information Technology, and Administration.
❑ Improved Coordination &Efficiency: Ensures greater alignment across
critical administrative areas.
❑ Cost Savings: Reduces redundancies and optimizes resource allocation.
❑ No Additional Salary Cost: New position retains the current salary of the
Assistant City Manager.
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Organizational Restructuring continued
❑ Proposed Position Change: Replace the Senior Management Analyst
position with an Administrative Services Manager.
❑ Responsibilities: legislative affairs, social media, strategic planning, and
special projects
❑ Enhanced Responsibilities:
❑ Information technology management
❑ Serving as the organization's Purchasing Officer
❑ Objective: Enhance operational efficiency and organizational effectiveness by
providing key support to Assistant City Manager/Finance Director and City Manager.
❑ Key Benefits of New Role:
❑ Ensures compliance with legislative requirements
❑ Manages IT infrastructure effectively
❑ Enhances public engagement through social media
❑ Effectively manages procurement processes
❑ Provides critical support needed for current organizational restructuring efforts
❑ Salary Range: $8,345 — $10,889 per month.
Organizational Restructuring continued
❑ Proposed Position Change: Replace the Director of Finance position with
a Director of Public Safety.
❑ Responsibilities: Plans, directs, manages and oversees the Public Safety's
Department activities and operations, and will have direct oversight of
contract safety service providers.
❑ Objective: Ensures efficient oversight of public safety operations, including
disaster response, code enforcement, and law enforcement services, to
protect residents and businesses.
❑ Impact on Community: This position strengthens public safety measures
aimed at making Rosemead more resilient and safe. Engages with residents
and businesses to address safety concerns and improve security. Ensures
that public safety agencies work collaboratively, monitoring and optimizing
response times and resource allocation to protect residents and businesses.
❑ Salary Range: $12,202 — $15,862 per month, based on a salary survey.
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California Code of Regulations (CCR) Section 570.5 and
amendments to 571(b) require a consolidated Salary Schedule
which shows all City classifications and salary ranges for
purposes of determining eligible salary compensation for
retirement be publicly available.
Adopt Resolution 2025-13 to update the salary schedule to
include the following changes:
1. Delete Assistant City Manager and Add Assistant City
Manager/Finance Director
2. Delete Senior Management Analyst and Add Administrative
Services Manager - $8,345 — $10,889 per month
3. Add Public Safety Director - $12,202 — $15,862 per month
Receive and File
FY 2024-25
Mid -Year Report
Staff
�r�W Inmendations
Adopt Reso No. 2025-12
Amending the operating
& Clp Budget' and
Additions to Authorized
Staffing
Adopt Reso No, 2025-13
Amending the
Comprehensive Salary
Schedule