FY 2022-23 FINANCIAL REPORT
as of July 31, 2022
Monthly Financial Report
Welcome to the Monthly Financial Report for the City of Rancho Palos Verdes!
Each month, the Finance Department will provide an updated overview of the City's finances. This report will also provide access to the OpenGov financial data portal to help promote transparency and increase citizen engagement throughout the community. For additional insight into the City's finances, the FY 2022-23 Adopted Budget and Annual Comprehensive Financial Report (ACFR) are available at the bottom of this report.
General Fund Budget vs Actual
The adopted General Fund budget recognized $36 million in revenues and expenditures, including transfers, and resulted in a structurally balanced budget for Fiscal Year (FY) 2022-23. Year to date, the City's General Fund has received $270 thousand in revenues and $1.6 million in expenditures.
GENERAL FUND REVENUES
Year-Over-Year Revenue Comparison by Revenue Source
The General Fund received approximately $270 thousand in revenue as of July 31, 2022. Revenue received at this point in the year traditionally comes from permits & fees and miscellaneous revenue sources. Additional insights will be reported as notable trends or changes are identified through the duration of the fiscal year.
The City's major General Fund revenue sources are comprised by Property Tax, Transient Occupancy Tax, Sales Tax, Franchise Tax, User Utility Tax, Permits & Fees, and Other Taxes & Miscellaneous Revenues. Other Taxes & Miscellaneous Revenues and Permits & Fees account for 17% and 83% of revenues received to date, respectively.
GENERAL FUND EXPENDITURES
Year-Over-Year Expenditure Comparison by Department
Through July, General Fund expenditures reached just over $1.6 million. Additional insights will be reported as notable trends and changes are identified through the duration of the fiscal year. Please note that the graphs below categorize smaller expenditures as "Other".
FY 21-22 & FY 22-23 Monthly General Fund Expenditure Comparison
The table below provides a month-over-month comparison of General Fund expenditures. Several factors can effect the change in expenditures each month, including the timing of invoices received and paid by the City.
City of Rancho Palos Verdes Financial Reports
