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City reports FY 2023–24 unaudited year‑end figures; staff sees salary savings and no reserve drawdown needed
Summary
Director Christy Ramirez presented unaudited FY 2023–24 results: general fund revenues ~$15.6M and expenses ~$15.69M (cash basis), salary savings of about $1.2M and planned CIP carryovers; staff does not expect to dip into reserves and proposed using a $227,000 favorable water replenishment variance for a water master plan.
Finance Director Christy Ramirez reviewed unaudited FY 2023–24 results and noted that although revenue came in below budget in some categories (notably plan checks), salary savings and other offsets mean the city does not expect to draw from reserves for the year. Ramirez identified ~$1.2M in salary savings, explained timing of CIP carryovers (~$1.2M moved into next fiscal year) and recommended using a $227,000 water‑replenishment savings to fund a water master plan to inform the next rate study.
Council asked about staffing delays, ticket and permit trends, and the mechanics and timing for implementing the recently approved local sales-tax Measure R; staff said Measure R collections could begin in February if paperwork is filed by the end of December and that rates and projections will be reflected in the next budget cycle.
