Murrieta reports $8.5 million surplus for FY 2024–25; council approves purchase‑order carryovers

Murrieta City Council accepted the fiscal‑year 2024–25 year‑end budget report and approved requested purchase‑order carryovers during its Jan. 20 meeting. Staff reported that general fund revenues exceeded expenditures by $8.5 million and total citywide revenues exceeded expenditures by about $16.9 million.

Director of Finance Javier Carcamo introduced the presentation; Jennifer Terry (finance manager) told the council the final general fund revenues were about $81 million—approximately $5.9 million above amended budget—and that the city’s unassigned fund balance grew to roughly $61.5 million. Key revenue overperformance came from sales taxes, miscellaneous revenues (including interest earnings and reimbursements) and franchise taxes. Expenditure savings—largely vacancy savings and reduced O&M costs—also contributed to the favorable result.

Staff asked the council to carry forward approximately $7.3 million in CIP purchase orders and $932,000 in operating purchase orders into FY 2025–26 so contracted or in‑progress work can be completed without tapping the new fiscal year’s operating budget. Staff explained that carryovers do not change operating budget appropriations but move previously committed POs into the new fiscal year’s subledger where projects continue.

Councilmember Laurie Stone moved to accept the year‑end report and approve the PO carryovers; Mayor Pro Tem Ron Holiday seconded. The motion passed unanimously 5–0. Finance staff said they will bring the city’s annual comprehensive financial report and single audit to the Feb. 3 council meeting and a major budget update in March.