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San Gabriel reports sixth consecutive year of positive net change in general fund; reserves rise to 41.5%
Summary
Finance Director Kaulahula presented preliminary, unaudited FY 2023–24 general fund results showing a $4.67 million increase in fund balance, revenues of about $53.84 million, expenditures of $49.173 million, and an unrestricted reserve ratio rising to 41.5%; staff said auditors will perform adjustments during the upcoming audit.
Finance Director Kaulahula presented the city's preliminary (unaudited) general fund financial results for the fiscal year ending June 30, 2024, reporting a net increase in fund balance of $4,670,000 and an unrestricted fund balance of approximately $20,431,000. "This is the sixth year in a row that we've had a positive net change in fund balance," Kaulahula said, and noted the city increased its unrestricted reserve percentage from 29.5% to…
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