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CBA projects nearly $1.7 million surplus; staff report lease renewal and business modernization steps
Summary
The California Board of Accountancy’s treasurer reported projected revenues of more than $21.5 million and a projected year-end surplus of about $1.7 million; staff also outlined a newly executed lease at Venture Oaks and continued work on a business modernization project including credit-card payments and a case-management system.
The California Board of Accountancy’s third-quarter financial report for fiscal year 2024–25 shows the board’s budget authority at $19,785,000 and projected revenues expected to exceed $21,500,000 by year end, producing a projected surplus of about $1,700,000 (8.4%), Treasurer Doug Aguilera reported May 15.
Aguilera told the board the fund condition statement projects roughly 13.3 months in reserve at the conclusion of the fiscal year. The projection excludes possible adjustments from the governor’s May revision and legislative action; staff said additional updates will be provided at the July meeting.
In a separate administrative report, executive staff said the board has fully executed a lease renewal for its Venture Oaks office. Under the new contract the monthly rent begins at $45,594 with an annual escalation of approximately 2.3% and a final-year rent projected at $53,573; staff said the renewal yields savings compared with prior terms, estimating “over a hundred thousand dollars per year” in savings but agreed to follow up to clarify whether that figure represents annual savings or savings measured over multiple years.
Staff also updated the board on the CBA business modernization project. The project team has begun an examination-phase review and planning for application processing and payment modernization; staff said a credit-card payment option for examination applicants is expected to launch after July 1 and that work on an enforcement case-management system is underway.
Board members asked about the fiscal effects of a state executive order that increases minimum office days; agency staff said the department had space to accommodate the change and did not expect a near-term adverse budget impact. Staff noted some temporary positions had been used for reorganization work and that cross-training helped absorb workload after the elimination of three vacant positions.
