Board projects $5.7 million fund balance; budget office notes staff costs will drive future increases

State Department of Consumer Affairs (DCA) budget analyst Jennifer Tompkins told the California Acupuncture Board on June 13 that the board’s 2024–25 fund condition projections show projected year-end revenues of about $4.5 million and a projected fund balance of roughly $5.7 million, equal to about 16.3 months of reserve.

Tompkins said the board began the 2023–24 fiscal year with a beginning balance “of just over $4,100,000,” collected roughly $4.1 million in receipts last year and ended 2023–24 with about $4.6 million in reserve. For 2024–25 the budget office projects about $4.5 million in receipts to year end; the office projects roughly $3.4 million in expenditures for the year and a reversion (undrawn balance) in prior reporting of about $521,000 on the prior-year comparison. “This is a snapshot in time, for fiscal month 9,” Tompkins said, and emphasized that personnel cost adjustments — general salary increases and retirement-rate changes — are the main drivers of future expenditure growth.

Board members asked about delinquent-fee trends and the budget office response that month‑to‑month projections are incomplete until the final quarter; staff said more precise figures will be available in later meetings. Tompkins said the budget office uses a conservative ongoing 3 percent annual increase assumption for expenditures in the fund condition statements and that future legislation or unanticipated events could require additional resources.

The board did not take action on the budget numbers; the presentation was informational and staff said they will continue to report monthly as the fiscal year closes.