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The original item was published from 5/23/2017 5:44:45 PM to 5/23/2017 5:46:02 PM.

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News for San Gabriel

Posted on: May 23, 2017

[ARCHIVED] City releases quarterly budget update: January - March 2017

The city’s Quarterly Budget Update, which includes a single page financial summary as well as a more detailed revenue and expenditure summary are now available at this link

Capital and Special Projects: All one time and multi-year expenditures are budgeted in the Capital and Special Projects Fund. The January-March Quarterly Budget Update includes budget adjustments that result due to prior fiscal year unexpended Capital and Special Project budgets and any City Council approved amendments through March. 

Budgeted transfers for Retirement Fund, State Gas Tax Fund, and Mission Playhouse Facility Fund: An annual transfer is made at the end of each fiscal year during the closing process from the Retirement Fund to the General Fund and Mission Playhouse Fund to reimburse those funds for active employee costs and to the Self-Insurance Fund to reimburse that fund to cover retired employee costs. As a result there are no actual expenditures in the Retirement Fund. In addition to these transfers there is also a transfer from the General Fund to the Mission Playhouse Facility Fund to provide for an anticipated operating subsidy of $599,587. Historically, there has also been an annual transfer made at the end of the fiscal year totaling $600,000 from the State Gas Tax Fund to the General Fund to support street maintenance related expenditures, however this year that will not be the case as the $600,000 will be spent on the Great Streets Program. For more information, please contact Finance Director Tom Marston at 308-2812 Ext. 4610 or tmarston@sgch.org.

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