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California Acupuncture Board projects roughly $5.7 million fund balance as fiscal year closes
Summary
The board’s budget analyst told members the 2024–25 revenue and expenditure projections show an expected fund balance of about $5.7 million (roughly 16.3 months in reserve); staff cautioned the figures are a snapshot for fiscal month 9 and said ongoing salary and retirement adjustments will raise expenditures in future years.
Jennifer Tompkins, a budget analyst in the Department of Consumer Affairs budget office, told the California Acupuncture Board on June 13 that the board’s fiscal projections show stronger-than-expected reserves heading into the next fiscal year.
“The board had a beginning based budget of approximately 3,800,000.0 and is projected to spend approximately 3,200,000.0, creating a reversion to the board's fund of approximately 521,000 or a reversion percentage of 14.05%,” Tompkins said. She described the figures as a “snapshot in time” based on actual data through fiscal month 9 and said the board currently projects about $4.5 million in revenue and roughly $3.4 million in expenditures for 2024–25, leaving an approximate fund balance of $5.7 million or about 16.3 months in reserve.
The budget presentation walked through the board’s fund condition statement and revenue mix. Tompkins said 2023–24 actuals showed about $4.1 million beginning balance, roughly $4.1 million in revenues the prior year, and an ending reserve of about $4.6 million (16.2 months). For 2024–25 she listed revenue line items including delinquent fees, license renewals and other regulatory fees, and noted out‑year revenue assumptions rise in the document. She also said the budget office conservatively applies a 3% ongoing increase to expenditures to reflect salary and retirement adjustments.
Board members asked about delinquent-fee trends and whether delinquency counts were rising because of online renewal changes or other causes. Tompkins said the report covers month 9 and that staff cannot yet determine a definitive trend; she suggested waiting another quarter for clearer data and reported that delinquent-license figures will also be included in the licensing report.
Ben Bodhi, the board’s executive officer, and members discussed the potential for future legislation or unanticipated events to change resource needs; Tompkins said such developments could require additional funds. Staff committed to continuing monthly monitoring and to return with updated expenditure projections as the fiscal year closes.
Board action: none on the budget presentation itself. The board did take an unrelated procedural vote earlier in the meeting to approve the March 7, 2025, meeting minutes.
Looking ahead: staff will report updated figures to the board in future monthly updates and expects clearer delinquency trends after additional months of data.
