Finance director says FY2025 ended with ~$10.2M cash; council presses for reconciliation of carryovers and amended budgets

Finance Director presented the City of Redding’s fiscal-year-end review for FY2025, walking council through general-fund cash, revenue variances and a crosswalk between the prior 10‑year forecast and the newly adopted 10‑year plan.

Key figures given in the presentation: an estimated actual cash balance as of June 30 of about $10.2 million (audit not complete), a forecasted beginning cash for the new 10‑year plan of about $9.0 million, and an overall shortfall of roughly $3.7 million versus internal projections for the fiscal year. The director listed major revenue variances: sales tax came in about $1.3 million under projection for the year, property tax outperformed estimates by about $500,000, TOT was about $300,000 below projection, and building- and permit-related fees were also below expectations. He also noted the city expects a FEMA SAFER grant reimbursement of roughly $2.2 million but is waiting for federal billing system updates tied to the city's consolidated UEI number.

Council members pressed staff on transparency in the new reporting extracts — specifically, how the 'amended-with-carryovers' figures reconcile with the adopted/amended budget lines that council traditionally reviewed. One council member requested returning with a columnar reconciliation showing adopted budget, amended budget, carryovers and encumbrances so that year-to-year and quarter-to-quarter comparisons are clearer. Finance staff agreed to produce a more detailed reconciliation and to explore returning monthly-level detail if council requests it.

The presentation also listed department budget requests (for example: police retirements cash‑outs ~$631,000; fire requests for retirements and negotiated increases ~ $773,000; parking loan $232,000) and discussed internal service fund adjustments that may be brought as part of the supplemental budget.