City Council

J.\nReceive and File the First Quarter Budget Report and Adopt Resolution No. 2025-\n66 Amending the FY 2025-26 Operating and CIP Budgets The financial position of\nthe City for the General Fund for FY 2024-25 (unaudited) and FY 2025-26 through\nSeptember 30, 2025 (1st Quarter) is summarized in the report.  Additionally,\ncarryover appropriations for the Capital Improvement Program are included. The\nactions proposed in the report include the adoption of Resolution No. 2025-66,\nwhich amends the FY 2025-26 Operating and Capital Improvement Program\nbudgets. In summary, the data presented has shown that the actual revenue for\nthe General Fund in FY 2025 exceeded the estimated budget by $2.1 million, while\nexpenditures were $0.7 million lower than the budgeted appropriations.  The\nGeneral Fund’s fund balance underwent a net increase of $2.6 million in Fiscal\nYear 2025, increasing from $34.4 million to $37.0 million. In addition, a total of\n$42.5 million in prior year appropriations across 16 funds will be carried forward\nto FY 2025-26 for 30 Capital Improvement Program (CIP) projects. Additionally,\nfirst quarter receipts for FY 2025-26 comprise 7.7 percent of total revenue and\nexpenditures for the same period total 19.0 percent, representing 25.0 percent of\nthe year.\nRecommendation: That the City Council take the following actions:\n\n1.\nReceive and file the 1st Quarter Budget report; and\n2.\nAdopt Resolution No. 2025-66, entitled:  A RESOLUTION OF THE CITY\nCOUNCIL OF THE CITY OF ROSEMEAD, CALIFORNIA, AMENDING THE FY\n2025-26 OPERATING BUDGET AND CAPITAL IMPROVEMENT PROGRAM\nBUDGETS\nStaff Report