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San Mateo LAFCO reports near-budget year-end revenues and a larger-than-projected carryover into FY25–26
Summary
LAFCO reported FY24–25 year-end revenues near budget, lower application fee revenue than projected, and a higher carryover fund balance for FY25–26 that has been partly allocated to one-time county attorney costs and reserves.
San Mateo County LAFCO reported its fiscal year 2024–25 year-end figures and an early FY25–26 update at the Sept. 17 meeting, showing overall revenue near budget, lower application-fee income than projected, and a larger carryover fund balance than anticipated.
Rob presented the financial update and said LAFCO revenues for FY24–25 totaled $890,789, slightly under the budgeted $891,018; application-fee revenues were about $19,000 of a budgeted $35,000. LAFCO expenditures through the year were roughly 86% of budgeted amounts, driven in part by salary savings from a vacant management-analyst position and reduced legal costs. The carryover fund balance reported for FY24–25 was roughly $290,000 — about $75,000 more than projected in May — and those additional funds were allocated to one-time county attorney costs and the LAFCO reserve.
For FY25–26, LAFCO has received its full apportionment from member agencies and reported about $6,000 in application revenue to date. Staff said expenditures are within expected ranges at the start of the fiscal year.
During the update a commissioner asked what a “wellness dividend” was; Rob explained that it is an employee-incentive payment administered through county human resources tied to employees participating in wellness activities managed by county HR.
