TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Javier Carcamo, Finance Director
PREPARED BY: Tanner Benson, Financial Analyst
SUBJECT:
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Fiscal Year 2023/24 Year End Report and Approve Appropriations for Carryover of Unspent Amounts from FY 2023/24 to FY 2024/25
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RECOMMENDATION
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Accept this report;
Amend the Fiscal Year 2024/25 Operating Budget to include the Fiscal Year 2023/24 Carryover Budget; and
Amend the Fiscal Year 2024/25 Operating Budget to include an Appropriation of $230,305.37, as described in the fiscal impact statement.
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PRIOR ACTION/VOTE
On June 6, 2023, the City Council, the Boards of Directors of the Murrieta Fire District (MFD), the Community Services District (CSD), the Murrieta Library District (MLD), the Housing Authority (HA), and the City Council acting as Successor to the Redevelopment Agency (SA), adopted a series of Resolutions (23-4671, MFD 23-219, CSD 23-276, MLB 23-17, RSA 23-29, and MHA 23-43) approving the Operating Budgets for Fiscal Years 2023/24 and 2024/25 (Vote: 4-0-1).
Subsequently, the City Council, the Boards of Directors of the MFD, CSD, MLD, SA, and the HA approved amendments to the Fiscal Year 2023/24 Operating Budget on November 21, 2023, March 5, 2024, and May 7, 2024 (Vote: 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
Budgets are projections based on known and anticipated future revenues and expenditure obligations. Staff monitors and analyzes actual revenues and expenditures against projections throughout the Fiscal Year (FY) and provides quarterly reports to the City Council, City Manager, and department directors. They also recommend budget amendments, if necessary. This report aims to provide consistent financial updates by summarizing the Citywide estimated financial operating results for the FY that ended June 30, 2024. While this r...
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