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March report: Pasco general fund revenue lags cyclical expectations; reserves cover early shortfall
Summary
Interim finance staff reported March general fund revenues at about 7% of budgeted revenues (lower than typical for the period), noted investment income gains and said reserves currently cover a near‑term negative net position; staff expects revenues to pick up in second quarter and will report updated projections then.
Interim Director Garcia presented the City of Pasco’s general fund monthly report for March 2025, telling council that revenues were at roughly 7% of the biennial budget at that reporting point — lower than the seasonal expectation because major revenue streams such as property tax and interdepartmental charges are collected later in the fiscal cycle.
Garcia said the city is actively managing cash and investing short‑term funds; the general fund earned about $266,000 in investment income in the second quarter to date, a higher amount than recent years. On the expense side, the general fund is at approximately 13% of the biannual budget driven primarily by services, including public‑safety contracts. Garcia told council the net position was near negative $2,000,000 at the time of the report but that reserves were covering interim shortfalls and that staff expects revenue collections to accelerate in second quarter (for example, property tax receipts in April and seasonal sales tax and permit activity).
Council asked for clarifications on specific contract charges and the funding source for the comp‑plan consultant contract; Garcia said much of the comprehensive‑plan work was paid with Department of Commerce grant funds. Staff will return with more complete second‑quarter projections nearer the end of the quarter.
