Finance officer reports Measure M revenues, expenditures for fiscal 2023–24 quarter

Imelda Arroyo, budget officer, presented the fiscal year 2023–24 fourth-quarter revenues and expenditures for the Strong Communities fund on March 13.

Arroyo said total revenues received through June 2024 were about $16.2 million, of which $15.4 million came from sales-tax transactions and roughly $803,000 from investment proceeds. She referenced the California Department of Tax and Fee Administration sales tax report for the quarter ended June 30, 2024, showing gross revenues of about $3,888,000 for April–June 2024.

Arroyo said expenditures through the fourth quarter were about $9.4 million, with library-program expenses at 67% of budget and recreation programs at 71% of budget. She said a one-time purchase for the bookmobile had been encumbered and would roll into the next fiscal year, and that some delays in opening the Ursula Meyer Library and Community Center contributed to lower-than-expected plan expenditures.

Arroyo said capital projects often use multiple funding sources and that, while only about $587,000 was charged to Measure M in the fourth quarter, total capital spending for the fiscal year was roughly $5,000,000 across all sources. She said staff projects an ending fund balance of about $2.2 million at the end of the current fiscal year and estimated a fund balance of $14.7 million at the Measure M sunset based on revenue and expenditure projections shown in staff materials.

Committee members asked whether reduced spending reflected delays in project starts or progress; Arroyo confirmed slower project progression as the primary reason for lower spending against budgets.

Arroyo concluded by offering to answer further questions and referencing attachment materials provided in the committee packet for line-by-line figures.