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Home My WebLink About2025 - General Fund Status Report – FY 2025 2nd Quarter General Fund Status Report — FY 2025 2nd Quarter General Fund Summary For FY25, the City adopted a budget of$165.2 million in total revenue including transfers and $165.4 million in total expenditures. After carrying over unused Charter Commission funds from FY24, the total expenditures are now $165.8M and the use of fund balance is now $578,133. As of 6/30/2024, the General Fund balance is $40.65M, with $31.37M unassigned. This a 19% unassigned fund balance ratio. The administration continues to monitor expenditures and seek necessary savings to maintain vital services while also making strategic investments to grow the City's economy and strengthen the quality of life for residents, workers, business owners, and visitors. The general fund budget report is presented in several formats for informational value as follows. After a separate revenue summary, the City's general fund is presented as formally adopted in appropriation detail showing personnel vs. operating expenditures. Revenue Summary Revenue YTD 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 0.0%1 ' 0.0% 0.0% o 0 L General Fund revenue collected through the second quarter of fiscal year 2024-2025 were over $99.3M, 59.9% of the budget. 1 • Property Taxes (32.6% of GF revenue budget) are largely recognized at the beginning of the fiscal year. They were initially estimated to be $53.9M. • Income Tax (25.8% of GF revenue budget) collections were $15.34M (35.9% of its budgeted $42.7M). • Licenses and Permits (1.1% of GF revenue budget) are estimated to be $1.85M. The City has received 24.2% of the budgeted amount. • State Grants (15.6% of GF revenue budget) are budgeted to be $25.8M in revenue. Quarter 2 YTD is adjusted to include $3 million in revenue sharing coming in January instead of December and public safety revenue, with the $1 million capital city allocation being a recent factor for the 3-year average. Updated estimates of revenue sharing are available with the adopted State budget and will be incorporated into the budget carryforwards. • Return on Equity (ROE) (16.8% of GF revenue budget) represents payment to the City from the Board of Water & Light (BWL). The contract is 6% of budget and we will receive the full payment budgeted by BWL according to quarterly budget allotments resulting in $14.15M to date. The City approved its contract with BWL after adopting the budget, with updated amounts to be incorporated into budget carryforwards. • Charges for Services (6.2% of GF revenue budget) are trending slightly above the three- year average for the second quarter. • Fines and Forfeitures (1% of GF revenue budget) are budgeted to be about $1.6M. Quarter-to-date, revenue is almost $464,000. • Interest and Rents (0.4% of GF revenue budget) are budgeted to be $660,000 in FY25. The quarter-to-date amount is on track with the three-year average. • Other Revenues (0.2% of GF revenue budget) are a very small percentage of the General Fund budget and below the three-year average due to the city creating a separate fund for the opioid settlement money. 2 Expenditure Summary Expenditure YTD 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% moo\ °tsec `°e ties' �4r' °e � Lo O L� F' Co �Q Zy \ 5 C, yye `�¢ e5o e Q G�2\awe `te het �e a o ea c`� a��op J Q �a � �\er°°peJa 4 °tie ono (,\,A General Fund expenditures are slightly above the 3-year average by 0.1%. Media Center • Operating expenditures are on track be higher than budget due to new parking expenses due to their relocation. These costs will be less than $15k and will be incorporated into the next budget proposal. HRCS/Basic Human Service • Unspent funds from FY24 will be incorporated into budget carryforwards. City Supported Agencies • Higher expenditures are due to timing of individual initiatives including the racial justice equity alliance and the charter commission. 3 GENERAL FUND REVENUES FY2025 I 1 FY 2025 FY 2025 3 Year 02 Adopted Amended FY 2025 FY25 02 Percent Budget Budget 02 YTD Percent YTD Average Property Taxes Non-Dedicated 40,375,000 40,375,000 40,574,184 Dedicated - Police 4,065,000 4,065,000 4,065,000 Dedicated - Fire 4,065,000 4,065,000 4,065,000 Dedicated - Roads 2,710,000 2,710,000 2,710,000 Dedicated - Parks 2,710,000 2,710,000 2,710,000 Total. 53,925,000 53,925,000 54,124,184 100.4% 103.6% Income Taxes City Income Tax 42,750,000 42,750,000 15,341,056 Total. 42,750,000 42,750,000 15,341,056 35.9% 37.2% Licenses & Permit! 517348.2 Business Licenses 101,880 101,880 41,500 Cable Franchise Fees 900,000 900,000 188,605 Medical. Marijuana Licenses 800,000 800,000 205,000 Non-Business Licenses 25,120 25,120 6,878 Buildings Licenses & Permits 23,000 23,000 5,087 Total. 1,850,000 1,850,000 447,070 24.2% 36.8% State Grants Public Safety 2,500,000 2,500,000 2,493,745 Other State Grants 1,475,000 1,475,000 49,524 Reimbursements 1,800,000 1,800,000 543,487 Revenue Sharing 19,075,000 19,075,000 6,213,040 Capital City Allocation 1,000,000 1,000,000 - Total. 25,850,000 25,850,000 9,299,797 36.0% 45.6% Return on Equity Board of Water and Light 27,500,000 27,500,000 14,148,029 Sewage Disposal System 300,000 300,000 - Total. 27,800,000 27,800,000 14,148,029 50.9% 41.6% GENERAL FUND REVENUES FY2025 I 1 Charges for Services Fees 89,700 89,700 23,669 Services Rendered 1,800,700 1,800,700 1,226,611 Building Inspection Fees 2,125,000 2,125,000 1,279,626 Services To Others 54,400 54,400 62,658 Central Stores/Notary 2,000 2,000 80 Public Safety Services 163,800 163,800 61,553 Ambulance Transport Fees 5,450,000 5,450,000 1,882,571 Sales 2,200 2,200 45 Use & Admission Fees 617,200 617,200 348,805 Total 10,305,000 10,305,000 4,885,618 47.4% 44.7% Fines & Forfeitures Fines & Forfeitures 1,576,000 1,576,000 463,943 Total 1,576,000 1,576,000 463,943 29.4% 35.4% Interest & Rent Interest Income 445,000 445,000 424,296 Rental Income 215,000 215,000 172,893 Total 660,000 660,000 597,189 90.5% 94.4% Other Revenue Donations & Contributions 131,500 131,500 12,858 Miscellaneous 157,500 157,500 17,453 Sale of Capital Assets 120,000 120,000 121 Total 409,000 409,000 30,432 7.4% 32.6% Intenfund Transfers In Interfund Transfers In 100,000 100,000 - Total 100,000 100,000 - 0.0% 0.0 Use of Fund Balance Fund Balance 175,000 578,133 - Total 175,000 578,133 - 0.0% 0.0% Total General Fund Revenues 165,400,000 165,803,133 99,337,315 59.9% 61.9% General Fund Expenditures FY2025 • 1 December 31, 2024 FY25 02 3 Year FY2025 Adopted FY2025 Amended FY 2025 Percent 02 Percent Appropriations Budget Budget 02 YTD YTD Average Council Personnel 541,858 541,858 257,388 Operating 193,843 193,843 49,189 Total 735,701 735,701 306,577 41.7% 40.6% Internal Auditor Personnel 195,192 195,192 73,347 Operating 8,159 8,159 3,274 Total 203,351 203,351 76,622 37.7% 37.1% Courts Personnel 4,823,927 4,823,927 2,277,971 Operating 1,494,273 1,494,273 411,156 Total 6,318,200 6,318,200 2,689,127 42.6% 44.3% Mayor's Office Personnel 1,034,509 1,034,509 517,348 Operating 282,089 282,089 92,834 Total 1,316,598 1,316,598 610,182 46.3% 46.8% Media Center Personnel 651,522 651,522 311,387 Operating 76,009 76,009 34,921 Total 727,531 727,531 346,309 47.6% 43.8% Clerk's Office Personnel 1,152,251 1,152,251 630,310 Operating 801,810 801,810 410,699 Total 1,954,061 1,954,061 1,041,009 53.3% 48.5% Neighborhood&Citizen Engagement Personnel 1,094,223 521,226 258,707 Operating 608,913 413,178 44,998 Total 1,703,136 934,404 303,705 32.5% 40.0% Economic Development&Planning Personnel 3,883,414 4,089,058 1,971,523 Operating 2,760,027 3,323,115 1,174,820 Total 6,643,441 7,412,173 3,146,344 42.4% 53.4% Finance Personnel 1,578,106 1,578,106 805,503 Operating 532,454 532,454 280,568 Total 2,110,560 2,110,560 1,086,071 51.5% 46.2% Assessing Personnel 1,521,803 1,521,803 574,935 Operating 233,461 233,461 56,174 Total 1,755,264 1,755,264 631J09 36.0% 36.9% Treasury Personnel 1,997,312 1,997,312 1,009,040 Operating 900,488 900,488 354,494 Total 2,897,800 2,897,800 1,363,534 47.1% 44.2% Human Resources Personnel 1,847,163 1,847,163 896,173 Operating 679,126 679,126 300,168 Total 2,526,289 2,526,289 1,196,341 47.4% 34.9% General Fund Expenditures FY2025 • 1 December 31, 2024 FY25 02 3 Year FY2025 Adopted FY2025 Amended FY 2025 Percent 02 Percent Appropriations Budget Budget 02 YTD YTD Average Attorney's Office Personnel 2,407,024 2,407,024 1,071,071 Operating 300,998 300,998 114,736 Total 2,708,022 2,708,022 1,185,807 43.8% 43.1% Police Personnel 47,833,586 47,833,586 23,122,369 Operating 9,284,341 9,284,341 2,764,952 Total 57,117,927 57,117,927 25,887,322 45.3% 45.0% Fire Personnel 37,119,450 37,119,450 18,548,226 Operating 6,098,360 6,098,360 1,602,069 Total 43,217,810 43,217,810 20,150,295 46.6% 45.7% Public Service Personnel 3,182,612 3,182,612 1,521,649 Operating 9,826,092 9,826,092 2,164,323 Total 13,008,704 13,008,704 3,685,972 28.3% 30.1% Human Relations&Community Service Personnel 1,832,040 1,832,040 875,250 Operating 248,553 248,553 113,087 Total 2,080,593 2,080,593 988,336 47.5% 40.5% Parks&Recreation Personnel 5,675,739 5,675,739 2,682,122 Operating 3,428,336 3,428,336 1,138,009 Total 9,104,075 9,104,075 3,820,131 42.0% 40.3% Human Services Operating 2,235,000 2,235,000 1,102,218 Total 2,235,000 2,235,000 1,102,218 49.3% 38.7% City Supported Agencies Operating 537,500 940,633 275,621 Total 537,500 940,633 275,621 29.3% 15.7% City Recognitions Operating 10,000 10,000 - Total 10,000 10,000 0.0% 0.0% Non-Departmental Vacancy Factor (1,500,000) (1,500,000) - 0.0% 0.0% S.Lansing Distric Library 145,000 145,000 87,890 60.6% 51.1% Debt Service 1,346,312 1,346,312 - 0.0% 17.7% Net Transfers 6,497,125 6,497,125 6,497,125 100.0% 100.0% Total 6,488,437 6,488,437 6,585,015 40.2% 42.2% General Fund Total Expenditures 165,400,000 165,803,133 76,477,647 46.1% 46.0%