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Commission weighs midyear review, monthly reporting and budget timeline as new city manager arrives
Summary
The South Pasadena Finance Commission spent the meeting outlining expectations for the midyear financial review and the budget‑planning calendar as the city prepares for a new city manager and an overdue audit.
The South Pasadena Finance Commission spent the meeting outlining expectations for the midyear financial review and the budget‑planning calendar as the city prepares for a new city manager and an overdue audit.
Kelly (finance consultant, LSL) told commissioners the midyear review will be an estimate based on transactions posted through Dec. 31 and acknowledged the city lacks a complete trial balance for that period. “What we expect to bring to you is our best guess,” she said, adding the midyear will include budget‑to‑actual comparisons through December and a forecast for where 2024–25 is likely to land on June 30.
Why it matters
Commissioners said reliable, regular financial reporting is a priority. The council’s adopted priorities include establishing a cadence for routine financial reports to the council and finance…
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