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Temple City: Q1 finances on track; $6.2 million in ARPA spent for public safety
Summary
Administrative Services Director Kung told the council the city's first-quarter revenues and expenditures are in line with the FY 2024–25 budget; roughly $6.2 million of the council-designated $8 million in ARPA funds has been spent and staff expects to spend the remaining $1.8 million by March.
Temple City’s council on Jan. 7 received and filed the city’s fiscal year 2024–25 first-quarter financial and treasurer’s report, which shows revenues and expenditures generally tracking with the adopted budget.
Administrative Services Director Kung presented the review, saying, “generally speaking for the first quarter general fund revenues and expenditures are in line with the budget and comparable with the first quarter of the prior fiscal year 23-24.” He reported first-quarter general fund receipts totaled about $2.4 million, roughly 12.5% of a $19.1 million budget, and noted that property tax, building permits, sales tax and vehicle license fees account for about 74% (approximately $14.1 million) of budgeted general fund revenues.
Kung cautioned the council that a notable increase in the "other revenues" category this quarter reflects the market value gains on the city’s investments (CDs, treasuries, money markets), and that those valuations can fluctuate with interest-rate movements. He also reminded the council that vehicle license fee distributions are received in two installments, with the first expected in February and the second in May.
On expenditures, Kung said actual spending for the quarter totaled about $4.0 million, or roughly 26.1% of the adopted $15.9 million operating budget. He explained the percentage is slightly elevated because the city pays some obligations — notably insurance premiums — in full in the first quarter and that sheriff contract invoices may post later and be reflected at midyear.
On federal relief funds, Kung told the council staff had designated $8 million in American Rescue Plan Act (ARPA) funds for public-safety costs, primarily the sheriff's contract. “As of September 30th, 2024 we have spent $6.2 million and then we anticipate spending the additional $1.8 million by the end of March if not sooner,” he said, adding that timing depends on when bills are submitted.
A member of the public asked for clarification of "intergovernmental" revenues. Kung explained the historic vehicle license fee swap for property tax distributions and said the city budgets roughly $6 million from those intergovernmental sources, with the February/May distribution schedule.
Council took no formal vote to amend the budget; staff confirmed no budget amendments were proposed and the council elected to receive and file the first-quarter report.
The city will review the general fund balance at midyear after auditors close fiscal 2023–24 accounts. Kung said capital projects remain on track and that staff plans midyear adjustments only to “clean up” items that have arisen since his arrival.
