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Midyear financial report shows stable fund balances; June building-permit activity spiked
Summary
Glendale’s finance director reported midyear revenues and expenditures are generally in line with the budget and noted an unusually high $54 million in estimated building permit value issued in June.
Charlene Li, Glendale’s finance director, presented the city’s financial report for the period ending June 30, 2025, telling the council overall revenues and expenditures across funds show the general fund and all funds in stable positions at midyear.
Li said total revenue across all funds as of June 30 was reported as $36,000,000, described in the meeting record as a variance of 74% compared with the adopted budget. Total expenditures across all funds were reported as $27,000,000. For the general fund Li said total revenue was $11,000,000 (about 69% of the adopted budget) and total expenditures were $9,500,000 (about 58% of the adopted budget).
Li explained revenue percentages reflect property-tax collection timing and increased building-permit revenue. She said special and proprietary funds showed varying percentages because of reclassifications and timing (for example, some environmental fees will be reclassified to the recycling fund and water accounts are still being established in the system).
Alder questions focused on whether lower-than-expected numbers for refuse/recycling and hotel-tax revenue reflected timing or a longer shortfall. Li responded the refuse and recycling amount was lower pending reclassification of funds the city holds and that hotel-tax revenue tends to peak around events such as Cobra Fest.
During the consent-agenda discussion, council members highlighted the building-permit report: staff reported issuing permits in June with an estimated $54,000,000 in building improvement value. The presenter said most of that value is associated with a single large project (noted in the meeting as the “25 10 project”). Prior months’ permit estimates were cited in the meeting transcript with smaller values.
A resident, Autumn McElhert, asked whether federal actions could require clawbacks of COVID or ARPA funds. Li and staff responded that ARPA funds for the sidewalk project had been received and spent; Li indicated the ARPA money in question had already been received and expended.
Council members had no further action related to the midyear report; the presentation was received and staff will continue to monitor revenue and expenditure activity through the fiscal year.
