HomeMy WebLinkAbout04. Receive September 2024 Budget-to-Actual Financial OverviewPage 1 of 3
Item 4.
LICENTRAL SAN
November 7, 2024
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 SEPTEMBER 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 September 30, 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. In addition to budget and actuals, the Sewer Construction report includes a dashed line
representing the fiscal year targeted spend. Projected spend has been removed from the report until later
in the year, when project managers have a better grasp on spending trends and forecasting.
While these monthly overviews provide a summary -level snapshot of Central San's fiscal performance
from an expenditure trend perspective, a more comprehensive 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 figures 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 re -In
GOAL FOUR: Governance and Fiscal Responsibility
Strategy 1 - Promote and uphold ethical behavior, openness, and accessibility, Strategy 3 - Maintain financial stability
and sustainability
ATTACHMENTS:
1. Budget -to -Actual Expenditure Overview through September 2024
November 7, 2024 Regular Board Meeting Agenda Packet - Page 14 of 40
Attachment 1
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 $
$20,000,000
$22.OM
$10,000,000
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
November 7, 2024 Regular Board Meeting Agenda Packet - Page 15 of 40
$140
$120
$100
$80
$60
$40
$20
Budget to Actual Spending Trend FY 24-25
Sewer Construction Fund
(in millions)
$21.4 -! -
$19.3
$18.$
July August September October November December January February
f Budget --0- Target (90%of Budget) tActual
March April May
$127.2
June
November 7, 2024 Regular Board Meeting Agenda Packet - Page 16 of 40