2025-09-16 CC Agenda Packet - ITEM D19 - FY 2024-25 Third and Fourth Quarters Financial ReportCITY OF
ELSE GUNDO
FY 2024=25
Third & Fourth
Quarters
Financial Report
September 16, 2025
City of El Segundo 1 350 Main St. EI Segundo, CA 90245
1
1. FY 2024-25 Third & Fourth Quarters (Q3 & Q4) -
Financial Report
2. Update to Tyler EERP implementation
3. Staff Recommendations
Pa
• General Fund had realized $89.3M or 96% current year
revenues versus $103.6M or 116% prior year
• The big 5 revenues sources are on pace to meet or exceed
budget when all final receipts are received
• Audited Fiscal Year 2025 Financial Report will provide
better financial picture
3
Q3 & Q4 General Fund Revenues Actuals: $89.292,242
$16,000,000
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
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4
Top 5 Revenue Q3 & Q4 FY25 & Q3 & Q4 FY24
$1 s, 000,000
$16,000,000
$14,000,000
$14000, 000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$o
SALES & USE TAX BUSINESS LICENSE TRANSIENT OCCUPANCY PROPERTY TAX UTILITY USER TAX (OUT)
TAX
■ Q3-Q4 FY25 ❑ Q3-Q4 FY24
5
1
Source
ales & Use Tax
Fiscal Year
Actual Revenues
Received Through Q4
$12,131,189
2024-25
RevisedRevenue Full Year
Budget
$15,487,50
Variance in D.
Budget to Actuals
($3,356,311)
.•
Received
78°/
2
Business License
14,261,91
14,000,OOd
13,387,50
261,91
(1,491,481)
102%
3
ransient Occupancy Tax
11,896,019
89%
4
Property Tax
13,775,745
13,391,758
383,98
103%
5
Chevron Tax Reso Agreement
Utility User Tax (UUT)
Charges for Services
5,764,912
5,500,000
264,912
105%
6
7,854,987
11,165,70
(3,310,713)
70%
7
5,831,518
5,150,122
681,39
113%
8
'Transfers In
553,740
36,000
517,74
1538%
9
Franchise Tax
3,814,332
4,536,00
(721,668)
84.10/a
10
Other Revenues
3,224,621
2,513,657
710,96
128%
11
Intergovernmental
296,589
200,000
96,58
148%
12
License & Permits
2,995,435
2,582,372
413,06
116%
13 Interest & Rental Income
r14Fines & Forfeitures
6,523,776
4,736,926
346,721
1,786,84
138%
106%
367,465
20773
Fiscal Year 2024-25
Fund Name Actual Revenues to Revised Full Year Variance in Dollar Percentage
Date Budget
1 General Fund $89,292,242 $93,034,263 ($3,742,021) 96%
2 Water Fund 35,960,345 34,630,327 1,330,01 104%
3
�ransportation Funds
5,796,047
2,604,345
3,191,701
223%
4
Debt Service POBs
9,512,003
9,500,324
11,67
100%
5
Wastewater Fund
6,125,865
5,742,073
383,792
107%
6
General Fund CIP
6,361,305
5,245,732
1,115,57
121%
7
Equip. Replacement Fund
1,793,577
1,686,45E
107,121
106%
8
orkers Comp. Fund
3,758,429
3,542,207
216,22
106%
9
General Liability Fund
3,100,000
3,105,00
(5,000)
98.8%
10
IDev. Services Trust
245,086
270,00
(24,914)
91
11
IPublic Safety Special Rev.
1,684,355
2,521,93
(837,578)
67%
12
Other Special Rev.
1,108,130
977,364
130,767
113
13
Rec & Econ Dev Trust Fund
1,130,786
1, 1 24,25C
6,53
101 %
14
Cultural Development Fund
493,462
255,OOC
238,46
194%
15
IDebt Service Fund
81,941
35,OOC
46,941
234%
16
olid Waste Fund
300,000
300,OOC
011000
17
Isenior Housing Fund
rust Fund -Refundable Project Deposit
Total
1,03 8 955
1,038,771
184
100%
19
28,420
$167,810,949
0
0-
28,42
•0
0%
• General Fund has expended $93.9M or 94% current year
versus $1104.11M or 107% prior year
• Departmental budget variances were results of Salaries
and Benefits, CaIPERS UAL payment (overbudget); and
Contractual Services and Professional &Technical
expenditures (underbudget)
• Expenditures were reduced by $1.67M for final COVID
reimbursements collected for project closeouts (LTD:
$2.3M)
• Audited Fiscal Year 2024-25 Financial Report will provide
fi.nal... picture
t
$ 2 6, 000, 000
$24,000,000
$22,000,000
$20,000,000
518,000,000
$16,000,000
$14, 000, 000
$12,000,000
$10, 000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
Q3 & Q4 General Fund Expenditures Actuals: $93.886,298
1 1 1
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9
Fiscal Year 2024-25
1
Police
Fire
Transfers Out
Public Works
$22,231,649
15,663,956
$23,818,364
16,699,9251
$24,479,417
16,869,842
$661,054 103%
169,9 77 101%
2
3
4
14,996,546
9,844,794.
6,785,227
10,744,896
3,745,094
15,081,5461
15,188,217
106,672 101 %
9,775 794
8,317,519
(1,458,274)
85%
5
Non -departmental
6,785,227
7,143,577
358,349 105%
(864,435)I 92%
6
Recreation, Parks & Library
10,461,279
9,596,844
7
ommunity Development
31800,592
3,151,917
(648,675) 83%
8
Information Technology
3,912,086
3,911,403
3,054,905
(856,498) 78%
9
1City Manager
2,807,177
2,926,274
2,608,938
(317,337) 89%
10
Finance
2,766,646
2,194,785
897,45
658,095
2,766,646
2,431,193
(335,453) 88%
11 Human Resources
12 'City Attorney
2,134,785
1,335,019
(799,766) 63%
897,450
752,234
(145,216) 84%
13 City Clerk
658,0951
419,9351
(238,160) 64%
14 City Council
224,272
224,272
210,626
(13,645) 94%
15 ovid-19 Reimbursements
0
(1,673,885)
(1,673,885)I 0%
not include encumbrances
11
Fund Name
1 General Fund
Actual Expenditures Revised Full Year Variance in Dollar* Percentage
to Date Budget Expended*
$93,886,29E $99,941,651 ($6,055,353) 94%
2
Water Fund
34,227,592
39,333,60
(5,106,013)
87%
3
Transportation Funds
3,391,07E
4,797,86
(1,406,787)
71 %
4
Debt Service POBs
9,477,14C
9,500,31
(23,174)
99.8%
5
astewater Fund
5,086,64E
8,672,426
(3,585,778)
59%
6
General Fund CIP
11,419,90
30,357,54
(18,937,640)1
(8,533,334)
38%
7
Equip. Replacement Fund
3,631,892,
12,165,227
30%
84%
87%
8%
8
orkers Comp. Fund
2,864,885
3,418,321
(553,436)
9
General Liability Fund
3,293,956
3,769,56
(475,607)
10
Dev. Services Trust
75,427
887,47
(812,052)
11
Public Safety Special Rev.
1,358,20
3,221,575
(1,863,365)
42%
12
Pther Special Rev.
939,394
1,977,53
(1,038,141)
48%
13
IRec & Econ Dev Trust Fund
1,116,022
136,000
980,022
821%
14
Cultural Dev. Trust Fund
135,917
277,60
(141,687)
49%
15
Debt Service Fund
522,851
542,851
(20,000)
96%
16
Solid Waste Fund
281,425
330,00
(48,575)
85%
17 Senior Housing Fund 11,217 194,29 (183,079) 6%
:0
Does not include encumbrances
12
General Fund Reserve: 25% ($23.5M)
General Fund Balance: $43.5M (as of 6/30/25)
Economic Uncertainty Reserve: 2M
OPEB Reserve: 36.4M
Pension Trust Reserve: $6.4M
General Fund CIP Reserve: 400k
12
Description
Estimated
Beginning Unassigned Fund Balance on July 1, 2024
$40,701,761
Estimated FY 2024-25 Revenues
$96,690,772
Estimated FY 2024-25 Expenditures
$(93,886,298)
Estimated Ending Fund Balance (June 30, 2025)
$43,506,235
25% Reserve Requirement
$23,471,575
Estimated Available Unassigned Reserve *
$20,034,661
* City Council appropriated $5,230,000 towards FY 2025-26 General Fund CIP's
13
Financial Module Implementation: January 2025
General Ledger Number: March 2025
Implementation of Acct/AP/AR/GB/PO/Budget:
March 2025 to September 2025
➢ End user training: September 16-18, 2025
Go -Live: October 6, 2025
Human Resources Mgt/Payroll &Utility Billing:
Summer of 2026
14
1. Receive and File the Third & Fourth Quarters Fiscal Year 2024-25 Financial
Report.
15