HomeMy WebLinkAbout03.b. Receive Budget-to-Actual Expenditure Overview through the month of August 2024Page 1 of 3
Item 3.b.
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September 17, 2024
TO: FINANCE COMMITTEE
FROM: BRENNAN ROGERS, 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 AUGUST 2024
Attached are the Fiscal Year (FY) 2024-25 Budget -to -Actual Expenditure Overviews for the Operations
and Maintenance (O&M) and Sewer Construction funds through the month of August 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.
Strategic Plan Tie -In
GOAL FOUR: Governance and Fiscal Responsibility
Strategy 3 - Maintain financial stability and sustainability
ATTACHMENTS:
1. Budget -to -Actual Expenditure Overview through August 2024
September 17, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 35 of 139
0&M Fund Total FY 24-25 YTD Expenses by Month
(in millions)
$100,000,000 $96.OM
$90,000,000
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$17.6M
$20,000,000
$10,000,000 $14.9M
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25
(Actual Budget
September 17, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 36 of 139
$150
$130
$110
$100
$80
$60
$50
$40
$30
$20
$10 $19
$- $1.4
July August
Budget to Actual Spending Trend FY 24-25
Sewer Construction Fund
(in millions)
$133.3 —
.�Y
.R
$114.5
September October November December January February March April May June
f Budget --0- Target (90%of Budget) tActual
September 17, 2024 Regular FINANCE Committee Meeting Agenda Packet - Page 37 of 139