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FY2024-25 Third Quarter Budget Update & Proposed Appropriation Adjustment <br />June 3, 2025 <br />Page 7 <br />5 <br />0 <br />8 <br />4 <br />Police Revenue Bonds <br />The Police Department’s Holding Facility Debt Service was paid off in FY2023-24, leaving <br />an immaterial remaining balance. To formally close the Fund, staff is recommending that <br />the remaining cash balance of $53,470 transfers to the General Fund, which provided <br />most of the funding for the debt service payments. There was a remaining balance in the <br />Fund because the City used interest proceeds in the trustee account to supplement the <br />debt service payments. This resulted in the total payments being less than the total <br />amount transferred from the General Fund. <br />RDA: Successor Agency Fund <br />Santa Ana’s Successor Agency finalized the sale of the Third Street and Main Street <br />Parking Lot to the City on April 21, 2025. In accordance with Long Range Property <br />Management Plan approved by the State Department of Finance, the proceeds from this <br />transaction must be remitted to the County of Orange Auditor-Controller for distribution <br />among the various taxing entities. Revenue has been updated to reflect $190,000 from <br />the sale. A corresponding appropriation adjustment of the same amount is requested to <br />authorize payment to the Orange County Auditor-Controller. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />The General Fund Fiscal Impact is detailed on page 2 of this report. Exhibit 1 lists the line <br />item changes to revenue estimates and recommended appropriation adjustments. After <br />accounting for all the revenue and expenditure adjustments, the net impact is a $199,070 <br />increase to the General Fund’s estimated Spendable Fund Balance as of June 30, 2025. <br />EXHIBIT(S) <br />1. Line Item Changes to Revenue Estimates and Recommended Adjustments <br />2. Third Quarter Vacancy Report Summary <br />Submitted By: Alex Trinidad, Acting Executive Director of Finance and Management <br /> Services Agency <br />Approved By: Alvaro Nuñez, City Manager