Okay, so I would like to call this meeting to order.

The time is now 403.

Ready for roll call?

Councilmember the US Wells in President.

Councilmember Abigail?

Present.

And Mayor Gonzalez's excuse from today's finances committee meeting.

So will the clerk please make the public comment announcement?

After each agenda item is presented, the council members will ask for committee member comments and then take public comment.

You will have two minutes for your comment.

Will appear for convenience of the speaker and attendees.

Thank you.

So we'll move on to item two discussion items.

Item 2A 25-214 fiscal year 2024-25 third quarter financial report as of March 31st 2025.

Great, thank you.

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Perfect.

Thank you.

We tested the presentations, but didn't test the micro years.

So thank you for our your features with us.

So this afternoon, we have a brief presentation for you.

Nicole Gonzalez, Finance Director presenting this afternoon at the Finance Committee, the fiscal year's 24-25 quarter three financial report, which are financial reports through August 31st, 2025.

So the graph here provides an overview of the fiscal year 24-25 through March 31st, general fund revenue budget versus actuals.

And the orange is a year-to-date actuals.

And so this is kind of demonstrating where the city is with a collection of different revenue sources.

And we are a little over 50%.

I want to say it's closer to 60% of received revenue year to date through March.

That's consistent with what we see in the past.

The city will have received the second installment, which comes in late April and early May, which is the second installment of the Alameda County remittance of the property tax.

So I anticipate that we are going to come in close to where we have projected our budget at.

Excuse me, by annual budget process this last uh couple months.

Uh to let uh the committee have an understanding of where we are year over year with our trends and our revenue streams.

And so um you can see here that we're we're trending very similar to where we had in previous or so should say March of 2024.

So again, we're looking at March uh 31st, 2025, which you will see um on the left-hand side bar chart stacked by the different uh revenue streams compared to on the right side is through March 31st, 2024.

And so um we're trending very similar uh where we have uh total uh general fund revenues of about 90 uh.1 million compares to the 89.3 uh this year.

So very very close, um, about you know 700,000 difference.

So uh not concerned with how we are trending, we are trending similar.

We like I said when we look at quarter over quarter, um, in particular, you're looking to see if you're that there's drastic drops in any given particular uh revenue stream, and then if there is kind of digging a little deeper to understand what's causing that.

And so this is a great uh depiction to allow us to demonstrate that the city is trending in the way that it has historically trended at this point in the fiscal year.

Um shifting to expenditures, so similar to that revenue chart, um, the amended budget is in blue, um, and then the year-to-day actuals through March 31st, 2025 is in the green green bar.

Um, trending very similar um to um where we would expect to be with the with the expenditures.

Um so total expenditures in March is 98.5 million dollars compares to the budget at 163.2 million, which represents about 60 percent of uh total expenditures.

And so when you look at straight line and you're looking at how much a city uh may spend if you look uh at it 75 percent uh your nine months through the fiscal year, which is 75 percent.

Um expenditures all are cyclical, so we don't typically use that as our target.

Um so I will say again, looking um uh at where we are right now, I don't see any things that are uh of concern.

Uh again, similarly, we look at um how are we trending and how are we spending uh quarter over quarter?

So again, looking at on that left-hand side, the fiscal year 24-25 is the current fiscal year through March 31st, um, and then on the right is uh the same time period, but for fiscal year uh 2023-24.

Um, and so again, looking that we're spending um approximately 60 percent over uh the total budget for fiscal year 24.

Um we had 90.5 million uh versus 98.5 million um in this fiscal year.

So at this time uh time last year expenditures represented about 57 percent total spent over the fiscal year and authorized budget of 159.5 million dollars.

And so um you know expenditures increased in fiscal year 24-25, but the rate of the spending that we're seeing is very similar again when you look at quarter over quarter, and so our rate of spending isn't drastically increasing in comparison to our authorized budget.