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City reports Measure G financials as of June 30; revenues near budget and capital carryover noted
Summary
Assistant Finance Director A. Pedroza presented unaudited Measure G financials showing a $36.1 million amended revenue budget and departmental spending at roughly 92% of budget before non-departmental expenditures; capital project carryover and timing account for much of remaining balances. Staff warned Measure G is time-limited and set to expire in 2030.
Assistant Finance Director A. Pedroza briefed the committee on unaudited Measure G financials as of June 30, noting the amended revenue budget is $36,100,000 (including investment earnings). Pedroza said the city had received about 88% of transaction and use tax revenue for the reporting months (July–April) and that overall collections were at about 87% pending May payments.
Pedroza explained departmental operating budgets—administration, finance, community development, police, fire, public works and recreation—were generally under budget at this point in the fiscal year, while non-departmental spending (including capital projects, debt service and fleet maintenance) stood at around 55% because of timing differences tied to capital project invoicing. The presentation also noted an amended budget column that included $16,000,000 in capital project carryover from the prior year. Staff flagged that Measure G is set to expire in 2030 and could leave a projected annual revenue gap of about $40.2 million if not renewed by voters.
"This only reflects the months of July through April due to the timing of when we receive payment from the state," Pedroza said, explaining why figures are unaudited and subject to normal year-end posting.
