by Andrew Alonzo | aalonzo@claremont-courier.com

Finance director Jeremy Starkey delivered a mid-year budget report at the February 25 Claremont City Council meeting, a snapshot of the city’s revenues and expenditures from July 2024 to December 2024.

Revenues

The city’s adopted operating and capital improvement budget for 2024-25 projected revenues and transfers of $69.1 million. Recent amendments to the city’s general, special revenue, and capital project funds prompted an increase to $70.3 million.

“Through December 31, 2024, $26,525,370 in total revenues and transfers in had been received, representing 37.74% of the full-year budget,” according to a staff report. “This figure is in line with typical revenue receipts for the first six months of the fiscal year when compared to prior fiscal years.”

Expenditures

Expenditures and transfers out for 2024-25 were projected to be $75.9 million per the 2024-26 budget. Amendments for energy efficiency, capital projects, equipment acquisitions, grants, and unspent carryover funds from previous projects caused that figure to grow to $98.2 million.

Claremont’s projected expenditures for fiscal year 2024-25. Image/courtesy of City of Claremont

“Expenditures through December 31, 2024 totaled $ 35,225,998 or 35.84% of the full-year budget,” read the staff report. “Given the current status of expenditures, it is expected that the City will remain within the constraints of the current budget.”

General fund

General fund revenues are made of property, sales, transient occupancy, business license, user utility, and other taxes, licenses and permits, fines, use of money, charges for services, and other miscellaneous revenues.

General fund revenue projections for fiscal year 2024-25 were $35.9 million. They were adjusted up to $36.4 million at the meeting. As of December 31, 2024, revenues were $12.7 million.

Claremont’s projected revenues for fiscal year 2024-25. Image/courtesy of City of Claremont

General fund expenditures include administrative, general and financial services, community development and services, policing, recreation and human services, and other transferred out funds.

For expenditures, all line items except financial and community services were adjusted upward. The city’s general services actual cost stood at about $5.4 million, exceeding its $4.1 adopted budget and its $4.3 adjusted budget for 2024-25.

“Of the City’s operating departments, General Services, with 125.68% of its budget expended, exceeded the 50% threshold for the second quarter,” read the staff report. “This was primarily due to the full annual payment in July of approximately $ 3.9 million towards the City’s general liability, workers’ compensation, earthquake and property insurance deposits for the year. These costs are distributed throughout the year to the City’s operating departments, and it is expected that by the end of the fiscal year, General Services’ expenditures will be in line with the budget.”