HomeMy WebLinkAbout03.b. Receive Budget-To-Actual Expenditure Overview Through the Month of May 2024Page 1 of 3
Item 3.b.
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June 25, 2024
TO: FINANCE COMMITTEE
FROM: CHRISTOPHER THOMAS, ACCOUNTING SUPERVISOR
KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIPLEIBER, DEPUTYGM -ADMINISTRATION
ROGER S. BAILEY, GENERAL MANAGER
SUBJECT: RECEIVE BUDGET -TO -ACTUAL EXPENDITURE OVERVIEW THROUGH
THE MONTH OF MAY2024
Attached are the Fiscal Year (FY) 2023-24 Budget -to -Actual Expenditure Overviews for the Operations
and Maintenance (O&M) and Sewer Construction funds through the month of May 2024. These monthly
overview reports illustrate year-to-date spending compared to the estimated year-to-date budget at the
fund level in order to provide a high-level overview of Central San's interim fiscal performance as it relates
to spending. The Sewer Construction report now includes a dashed line projection of spending from the
current month through year-end.
While these monthly overviews provide a summary -level snapshot of Central San's fiscal performance
from an expenditure trend perspective, a more robust report is provided to the Board on a quarterly basis
which summarizes financial results in more detail. While staff considers the monthly overview reports to be
materially accurate, it is emphasized that these are un-audited and may be subject to change following the
completion of quarterly and year-end "hard close" procedures, as well as adjustments arising from the
year-end independent audit.
GOAL FOUR: Governance and Fiscal Responsibility
Strategy 3 - Maintain financial stability and sustainability
ATTACHMENTS:
1. Budget -to -Actual Expenditure Overview through May 2024
June 25, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 100 of 135
O&M Fund Total FY 23-24 YTD Expenses by Month
$100,000,000
$91.4M
$84.OM
$90,000,000
$80,000,000
$70,000,000
$78.3M
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24
--*—Actual Budget
June 25, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 101 of 135
$150
$140
$130
$120
$110
$100
$90
$80
$70
$60
$50
$40
$30
$20
$10
Budget to Actual Spending Trend
Sewer Construction Fund
(in millions)
$149.6
$126.1
' $130.3
$107.4
$80.7
$66.9
.f'
July August September October November December January February March April May June
f Budget - 0- Target (90%of Budget) Actual — Projected
June 25, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 102 of 135