Quarterly Financial Reports

In the continuing effort to provide transparent, open, up-to-date, accurate, and comprehensive information to the La Palma community, the City has expanded the information provided in quarterly financial reports. In the past, quarterly financial reports focused exclusively on the City's General Fund revenues. The Finance Department has now expanded these reports to include year-to-date expenditure and revenue totals with projections for year-end totals. In addition, the quarterly reports will now be the vehicle for presenting regular updates on City Council goals.

FY2022-2023

  • Q4 (Apr-Jun)

  • Q3 (Jan-Mar)

  • Q2 (Oct-Dec)
    • General Fund revenues totaled $5.0 million (39% of the budget), while expenditures totaled $6.6 million (52% of the budget) through December 31, 2022. These results are comparable to the prior year, where revenues totaled $5.0 million (38% of the year’s total revenue), and expenditures totaled $6.1 million (53% of the year’s total expenditures.   
  • Q1 (Jul-Sep)
    • General Fund revenues totaled $1.4 million (11% of the budget), while expenditures totaled $3.9 million (31% of the budget) through September 30, 2022. These results are comparable to the prior year, where revenues totaled $1.2 million (9% of the year’s total revenue), and expenditures totaled $3.4 million (30% of the year’s expenditures.  


FY 2021-2022

  • Q4 (Apr-Jun)
    • As of June 30, 2022, the "spendable" portion of the General Fund's fund balance (i.e., Committed, Assigned, and Unassigned) was $14.0 million. As a measure of the General Fund's liquidity, it may be useful to compare this “spendable” portion of fund balance to total General Fund expenditures. Using this metric, the total General Fund “spendable” fund balance represents 121% of total General Fund expenditures. The General Fund’s Unassigned fund balance was $6.2 million on June 30, 2022, and represents 53.7% of total General Fund expenditures.   
  • Q3 (Jan-Mar)
    • General Fund revenues totaled $8.21 million (66% of the budget) while expenditures totaled $8.18 million (67% of the budget) as of March 31, 2022. These results are comparable to the prior year where revenues totaled $7.1 million (63% of the year's revenues) and expenditures totaled $7.8 million (68% of the year's expenditures). 
  • Q2 (Oct-Dec)
    • General Fund revenues totaled $5.0 million (40% of the budget) while expenditures totaled $6.1 million (50% of the budget) as of December 31, 2021. These results are comparable to the prior year where revenues totaled $4.4 million (37% of the year’s revenues) and expenditures totaled $5.7 million (53% of the year’s expenditures).
  • Q1 (Jul - Sep)
    • General Fund revenues totaled $1.2 million (10% of the budget) while expenditures totaled $3.5 million (28% of the budget) as of September 30, 2021. In comparison, prior year revenues totaled $1.0 million (8% of the year’s revenues) and expenditures totaled $3.2 million (30% of the year’s expenditures).

FY 2020-2021

  • Q4 (Apr - Jun) 
    • As of June 30, 2021, the "spendable" portion of the General Fund's fund balance (i.e., Committed, Assigned, and Unassigned) was $11.0 million. As a measure of the General Fund's liquidity, it may be useful to compare this “spendable” portion of fund balance to total General Fund expenditures. Using this metric, the total General Fund “spendable” fund balance represents 98% of total General Fund expenditures. The General Fund’s Unassigned fund balance was $3.3 million on June 30, 2021, and represents 29% of total General Fund expenditures.   
  • Q3 (Jan - Mar)
    • General Fund revenues totaled $7.1 million (63% of the amended budget) while expenditures totaled $7.8 million (68% of the amended budget) through March 31, 2021. This results in a net shortfall of revenues under expenditures of $700,000, which accounts for the reduction in spendable fund balance. These results are comparable to the prior year where revenues totaled $7.4 million (62% of the year’s total revenue) and expenditures totaled $7.8 million (74% of the year’s expenditures).
  • Q2 (Oct - Dec)
    • General Fund revenues totaled $4.4 million (39% of the budget) while expenditures totaled $5.7 million (50% of the budget) as of December 31, 2020. These results are comparable to the prior year where revenues totaled $4.7 million (40% of the year’s revenues) and expenditures totaled $5.6 million (53% of the year’s expenditures).
  • Q1 (Jul - Sep)
    • General Fund revenues totaled $1.0 million (9% of the budget) while expenditures totaled $3.2 million (30% of the budget) as of September 30, 2020. In comparison, prior year revenues totaled $1.4 million (11% of the year’s revenues) and expenditures totaled $3.3 million (32% of the year’s expenditures).

FY 2019-2020

  • Q4 (Apr - Jun)
    • As of June 30, 2020, the “spendable” portion of the General Fund’s fund balance (i.e., Committed, Assigned, and Unassigned fund balance) was $9.1 million. As a measure of the General Fund's liquidity, it may be useful to compare this “spendable” portion of fund balance to total General Fund expenditures. Using this metric, the total General Fund “spendable” fund balance represents 84% of total General Fund expenditures. The General Fund’s Unassigned fund balance was $1.5 million on June 30, 2020, and represents 13.8% of total General Fund expenditures.
  • Q3 (Jan - Mar)
    • General Fund revenues totaled $7.5 million (62 percent of the amended budget) while expenditures totaled $7.8 million (69 percent of the amended budget) through March 31, 2020. In addition to this $0.3 million shortfall of revenues under expenditures, transfers to other funds were recorded totaling $1.5 million, as budgeted. This total net outflow of $1.8 million accounts for the reduction in spendable fund balance.
  • Q2 (Oct - Dec)
    • General Fund revenues totaled $4.7 million (40% of the budget) while expenditures totaled $5.6 million (50% of the budget) through December 31, 2019. In addition to this $0.9 million shortfall of revenues under expenditures, transfers to other funds were recorded totaling $1.7 million, as budgeted. This total net outflow of $2.6 million accounts for the majority of the $2.4 million reduction in spendable fund balance, with the remaining change coming from the timing related to current receivables and payables.
  • Q1 (Jul - Sep)
    • General Fund revenues totaled $1.4 million (11% of the budget) while expenditures totaled $3.3 million (30% of the budget) as of September 30, 2019. These results are comparable to the prior year where revenues totaled $1.4 million (12% of the year’s revenues) and expenditures totaled $3.0 million (30% of the year’s expenditures).

General Fund revenues totaled$4.7million (40% of the budget) while  expenditures  totaled$5.6million  (50%  of  the  budget) throughDecember  31,  2019. In addition to this$0.9 million shortfallof revenues under expenditures, transfers to other funds were recorded totaling $1.7 million, as budgeted. This total net outflow of $2.6 million accounts for the majority  of  the  $2.4  million  reduction  in spendable  fund  balance,  with  the  remaining  change coming from the timing related to current receivables and payaFY2018-2019

  • Q4 (April - June)
    • As of June 30, 2019, the “spendable” portion of the General Fund’s fund balance (i.e., Committed, Assigned, and Unassigned fund balance) was $9.3 million, while the total fund balance was $10.0 million. As a measure of the General Fund's liquidity, it may be useful to compare this “spendable” portion of fund balance to total General Fund expenditures. Using this metric, total General Fund “spendable” fund balance represents 87% of total General Fund expenditures. The General Fund’s Unassigned fund balance was $3.4 million at June 30, 2019, and represents 31% of total General Fund expenditures.
  • Q3 (Jan - Mar)
    • General Fund revenues totaled $7.6 million (65 percent of the amended budget) while expenditures totaled $7.3 million (68 percent of the amended budget). The excess of revenues over expenditures less transfers to other funds approximates the $5,000 reduction in spendable fund balance.
  • Q2 (Oct - Dec)
    • General Fund revenues totaled $4.7 million (40% of the budget) while expenditures totaled $5.2 million (49% of the budget) as of December 31, 2018. The excess of expenditures over revenues in addition to transfers of $0.4 million to capital projects approximates the $0.8 million reduction in spendable fund balance.
  • Q1 (July - Sept)
    • General Fund revenues totaled $1.4 million (12% of the budget) while expenditures totaled $3.0 million (29% of the budget) as of September 30, 2018. In comparison, the prior year expenditures totaled $4.4 million through the end of the first quarter; the prior year’s costs were disproportionately high due to a $1.5 million property acquisition in August 2017. 

FY2017-2018

  • Q4 (Apr - Jun)
    • As of June 30, 2018, the “spendable” portion of the General Fund’s fund balance (i.e., Committed, Assigned, and Unassigned fund balance) was $7.6 million, while the total fund balance was $10.0 million. Total General Fund “spendable” fund balance represents 60% of total General Fund expenditures. The General Fund’s Unassigned fund balance was $2.1 million at June 30, 2018, and represents 16.5% of total General Fund expenditures.  
  • Q3 (Jan -
    • General Fund revenues totaled $7.7 million (67% of the amended budget) while expenditures totaled $10.9 million (76% of the amended budget) as of March 31, 2018. The excess of expenditures over revenues equals the $3.1 million reduction in spendable fund balance.
  • Q2 (Oct - Dec)
    • General Fund revenues totaled $5.3 million (46% of the proposed amended budget) while expenditures totaled $6.5 million (45% of the proposed amended budget) as of December 31, 2017. The excess of expenditures over revenues equals the $1.1 million reduction in spendable fund balance.
  • Q1 (July - Sept)
    • General Fund revenues totaled $1.6 million (14% of the budget) while expenditures totaled $4.4 million (31% of the budget) as of September 30, 2017. In comparison, the prior year expenditures totaled $2.6 million through the first quarter. The increase of $1.8 million is explained main by two major expenditures, the acquisition of the property on La Palma and the required payment for the unfunded actuarial liability for pensions.


Click here to view older Quarterly Financial Reports (FY 2012-13 through FY 2016-17).