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09 - September 25, 2025 - Monthly Treasurer’s Report for August 2025 1 CITY COUNCIL INFORMATIONAL MEMORANDUM Date: September 25, 2025 To: Cupertino City Council From: Jonathan Orozco, Finance Manager Re: Receive the Monthly Treasurer's Report for August 2025 Background California Government Code Section 41004 states: Regularly, at least once each month, the city treasurer shall submit to the city clerk a written report and accounting of all receipts, disbursements, and fund balances. The city treasurer shall file a copy with the legislative body. The City's Municipal Code Section 2.24.030 Monthly Reports states: The Treasurer shall make monthly reports which conform to the requirements of Government Code Section 41004. Said reports shall be delivered to the City Council, the City Manager and made available for review by such other persons who may so request. The Treasurer's Report (report and accounting of all receipts, disbursements, and fund balances) is made available to City Council in compliance with the aforementioned requirements. Cash vs. Accrual Basis Accounting Cash basis accounting and accrual basis accounting differ in the way revenues and expenses are recognized and recorded, primarily with regard to their timing. Under cash basis accounting, revenues are recorded when payment is received, and expenses are recorded when payment is made. This method of accounting recognizes transactions only when cash changes hands. In contrast, accrual basis accounting recognizes revenues when they are earned (but not necessarily received) and expenses 2 when they are incurred (but not necessarily paid). This method of accounting recognizes transactions as they occur, regardless of whether cash has been exchanged. Receipts, disbursements, and cash balance are measured on a cash basis. The cash balance shows the total cash and investments in the City's accounts. The ending balance is the beginning balance plus receipts minus disbursements. Journal adjustments generally include transactions recorded in other systems and imported into New World, Council- approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and quarterly interest earnings. Revenues, expenditures, and fund balance are measured on an accrual basis. As a result, the amount in fund balance does not mean the City has that much cash on hand. Instead, fund balance is the difference between assets and liabilities. The ending balance is the beginning balance plus revenues minus expenditures. Treasurer's Report The report provides an update on the City's cash and fund balances for August 2025. The report is as of September 22, 2025. Note: Beginning balances have been updated to account for any final adjustments made as part of the month-end close that could not be completed before the prior report’s preparation. These adjustments were necessary due to time constraints associated with completing the month-end close process and generating the report. Receipts, Disbursements, and Cash Balance The City's General Fund ending cash and investment balance was $208.5 million, decreasing by $4.3 million from the prior month. Receipts were $2.7 million, disbursements were $(7.1) million, and journal adjustments were $145,287 for the month. The City's total ending cash and investment balance was $310.9 million, decreasing by $6.0 million from the prior month. Receipts were $3.5 million, disbursements were $(10.2) million, and journal adjustments were $713,732 million for the month. Journal adjustments included the following: • Parks and Recreation transactions imported from Active Network into New World • Position Allocation journal correction Fund Balance/Net Position The City's General Fund ending fund balance was $131.1 million, decreasing by $4.0 million from the prior month due to revenues of $1.5 million and expenditures of $5.4 million. 3 The City's total ending fund balance was $228.5 million, decreasing by $5.4 million from the prior month due to revenues of $2.2 million and expenditures of $7.6 million. Sustainability Impact No sustainability impact. Fiscal Impact No fiscal impact. California Environmental Quality Act Not applicable. _____________________________________ Prepared by: __________________ Jonathan Orozco Finance Manager Reviewed by: __________________ Kristina Alfaro Director of Administrative Services Approved for Submission by: __________________ Tina Kapoor Interim City Manager Attachments: A – Report of City-wide Receipts, Disbursements, and Cash Balances August 2025 B – Report of City-wide Fund Balances/Net Position August 2025 August 2025 Report of City‐wide Receipts, Disbursements, and Cash Balances Cash and Investments  Beginning Balance  Ending Balance  Fund Type Fund Number/Name as of July 31, 2025 Receipts Disbursements Journal Adjustments as of August 31, 2025 General Fund 100  General Fund 212,774,293                                    2,650,256               (7,095,685)                145,287                               208,474,151                                     General Fund 130  Investment Fund 0                                                       ‐                               ‐                                 ‐                                          0                                                       Special Revenue Funds 210  Storm Drain Improvement 151,968                                            ‐                               ‐                                14                                        151,982                                            Special Revenue Funds 215  Storm Drain AB1600 2,289,625                                        10,107                     ‐                                208                                      2,299,940                                         Special Revenue Funds 230  Env Mgmt Cln Crk Strm Drain 834,778                                           11,095                    (221,946)                   (663)                                    623,264                                            Special Revenue Funds 260  CDBG 314,018                                           61,311                    (42,106)                     50                                        333,273                                            Special Revenue Funds 261  HCD Loan Rehab 235,376                                            ‐                               ‐                                 ‐                                          235,376                                            Special Revenue Funds 265  BMR Housing 5,136,291                                         ‐                              (20,124)                     3,649                                   5,119,817                                         Special Revenue Funds 270  Transportation Fund 13,757,481                                      146,999                  (538,575)                   1,421                                   13,367,326                                       Special Revenue Funds 271  Traffic Impact 926,765                                            ‐                               ‐                                84                                        926,850                                            Special Revenue Funds 280  Park Dedication 21,201,174                                      45,000                    (7,890)                       1,925                                   21,240,210                                       Special Revenue Funds 281  Tree Fund 86,510                                             1,113                       ‐                                8                                          87,630                                              Debt Service Funds 365  Public Facilities Corp 0                                                       ‐                               ‐                                 ‐                                          0                                                       Capital Project Funds 420  Capital Improvement Fund 34,811,703                                      200,000                  (851,569)                    ‐                                          34,160,133                                       Capital Project Funds 427  Stevens Creek Corridor Park 160,756                                            ‐                               ‐                                 ‐                                          160,756                                            Capital Project Funds 429  Capital Reserve* 7,223,818                                         ‐                               ‐                                 ‐                                          7,223,818                                         Enterprise Funds 520  Resource Recovery 5,334,137                                        140,397                  (166,033)                   486                                      5,308,986                                         Enterprise Funds 560  Blackberry Farm 954,492                                           3,577                      (47,289)                     96,997                                 1,007,776                                         Enterprise Funds 570  Sports Center 679,431                                           46,598                    (104,082)                   94,482                                 716,429                                            Enterprise Funds 580  Recreation Program 3,218,144                                        10,338                    (252,815)                   380,290                               3,355,957                                         Internal Service Funds 610  Innovation & Technology 3,035,701                                        111,546                  (307,285)                   (10,986)                               2,828,976                                         Internal Service Funds 620  Workersʹ Compensation 3,950,915                                        575                         (146,164)                   356                                      3,805,682                                         Internal Service Funds 630  Vehicle/Equip Replacement 1,282,626                                        14,075                    (191,027)                   118                                      1,105,792                                         Internal Service Funds 641  Compensated Absence/LTD 67,039                                              ‐                              (15,703)                     5                                          51,341                                              Internal Service Funds 642  Retiree Medical (1,543,741)                                       ‐                              (149,268)                    ‐                                          (1,693,009)                                       Total 316,883,300$                                  3,452,987$             (10,157,562)$            713,732$                             310,892,457$                                   * For reporting purposes, this fund rolls up/combines with Fund 420 Printed September 22, 2025 For more information on funds, please see cupertino.org/fund‐structure August 2025 Report of City‐wide Fund Balances/Net Position Beginning Fund Balance Ending Fund Balance Fund Type Fund Number/Name as of July 31, 2025 Revenues Expenditures as of August 31, 2025 General Fund 100  General Fund 134,994,420                                     1,505,772                           5,389,212                           131,110,979                                      General Fund 130  Investment Fund 229,425                                             ‐                                           ‐                                          229,425                                             Special Revenue Funds 210  Storm Drain Improvement 2,122,489                                         14                                        ‐                                          2,122,503                                          Special Revenue Funds 215  Storm Drain AB1600 1,865,654                                         10,315                                 ‐                                          1,875,969                                          Special Revenue Funds 230  Env Mgmt Cln Crk Strm Drai 1,144,591                                         48,399                                220,876                              972,115                                             Special Revenue Funds 260  CDBG 1,687,436                                         177                                     2,408                                  1,685,206                                          Special Revenue Funds 261  HCD Loan Rehab 222,016                                             ‐                                           ‐                                          222,016                                             Special Revenue Funds 265  BMR Housing 9,550,110                                         466                                     13,192                                9,537,384                                          Special Revenue Funds 270  Transportation Fund 10,403,257                                       148,246                              235,611                              10,315,891                                        Special Revenue Funds 271  Traffic Impact 766,172                                            84                                        ‐                                          766,256                                             Special Revenue Funds 280  Park Dedication 18,610,416                                       46,925                                 ‐                                          18,657,341                                        Special Revenue Funds 281  Tree Fund 80,488                                              1,121                                   ‐                                          81,609                                               Debt Service Funds 365  Public Facilities Corp 1,750                                                 ‐                                           ‐                                          1,750                                                 Capital Project Funds 420  Capital Improvement Fund 21,022,556                                        ‐                                          433,933                              20,588,622                                        Capital Project Funds 427  Stevens Creek Corridor Park 157,343                                             ‐                                           ‐                                          157,343                                             Capital Project Funds 429  Capital Reserve* 13,744,638                                        ‐                                           ‐                                          13,744,638                                        Enterprise Funds 520  Resource Recovery 4,700,397                                         140,883                              153,569                              4,687,711                                          Enterprise Funds 560  Blackberry Farm 790,683                                            93,353                                43,249                                840,787                                             Enterprise Funds 570  Sports Center 1,932,912                                         80,339                                103,745                              1,909,507                                          Enterprise Funds 580  Recreation Program 3,224,444                                         138,528                              228,449                              3,134,523                                          Internal Service Funds 610  Innovation & Technology 1,563,441                                         1,324                                  305,631                              1,259,134                                          Internal Service Funds 620  Workersʹ Compensation 2,115,248                                         356                                     146,164                              1,969,440                                          Internal Service Funds 630  Vehicle/Equip Replacement 2,429,063                                         118                                     186,023                              2,243,158                                          Internal Service Funds 641  Compensated Absence/LTD 720,237                                            25                                       15,723                                704,539                                             Internal Service Funds 642  Retiree Medical (153,321)                                            ‐                                          149,268                              (302,589)                                            Total 233,925,866$                                   2,216,444$                        7,627,051$                        228,515,259$                                    * For reporting purposes, this fund rolls up/combines with Fund 42 Printed September 22, 2025 For more information on funds, please see cupertino.org/fund‐structure