MEMORANDUM
TO:
Finance & Administration Committee Director of Budget Jeffrey Brown
FROM:
SUBJECT:
FY 2025 Operating Budget vs. Actual Spending Review
DATE:
May 8, 2025
PURPOSE The purpose of the memorandum is to report on third quarter FY 2025 spending compared to the FY 2025 Final Operating Budget. KEY TAKEAWAY As of March 31, 2024, 63% of the budget was spent compared to a target of 72%. Except for fixed charges, all Object Codes were at or below budget. SUMMARY Budget analysis threshold: More than $500,000 budgeted with variances greater than +/- 5% of the targeted spending level. • Salaries & Wages/Technical & Special Fees ( Object 01 & 02 - $234.8M Budget ) are at targeted spending levels with a 72% spend rate. • Communications ( Object 03 - $4.3M Budget ) is below budget with a 21% spend rate due to the State Radio Invoice ( Sub object 0305 - $2.0M Budget ) that has not been paid. • Travel ( Object 4 - $639K Budget ) is below budget with a 25% spend rate. This is due to the normal seasonality of travel with more activity in the 3 rd and 4 th quarters. • Fuel and Utilities ( Object 06 - $5.0M Budget ) is slightly below budget with a 65% spend rate primarily due to the underspending in fuel oil and natural gas.
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