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FY2024-25 Third Quarter Budget Update & Proposed Appropriation Adjustment <br />June 3, 2025 <br />Page 5 <br />5 <br />0 <br />8 <br />4 <br />City Event Sponsorship <br />The Parks, Recreation, and Community Services Agency has actively pursued <br />sponsorships to help reduce the City’s share of event costs. To support this, staff <br />recommends appropriating $26,750 to the City Events budget, offset by sponsorship <br />revenue received this fiscal year. These funds will help address cost overages often <br />caused by last-minute requests and expanded event scope. <br />General Fund Expenditures <br />A summary of General Fund expenditures follows. <br />As of March 31, 2025, General Fund expenditures are at 61% of budget, which is <br />relatively consistent with the prior year when expenditures were at 62%. <br />In accordance with the City’s Budget and Reserve Policy, the General Fund budget must <br />remain balanced, with recurring expenditures not exceeding recurring revenues. To <br />support this requirement and in response to the lower revenue estimates noted above, <br />staff is recommending one-time expenditure reductions. These reductions reflect a <br />$1,036,000 decrease in the salary budget, achieved through vacancy savings in select <br />departments.