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Page 3 of 22 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />Tabl e 1 <br />$ in 1,000s Projected Actual (Prelim)Difference from <br />June 2024 February 2025 June 2025 <br />Beginning Fund Balance 22,209 22,209 <br />Revenues (incl. Transfers In)183,206 203,305 <br />Exp enditures (incl. Transfers Out)184,525 186,623 <br />Balance/(Deficit)(1,319)16,682 <br />18,001 <br />Ending Fund Balance 20,890 38,891 <br />Fiscal Year 2023-24 <br />The better-than-anticipated FY 2023-24 results were driven by strength in virtually all the City’s General <br />Fund revenue categories. The only two revenue categories that performed worse than anticipated in June <br />were miscellaneous revenues, which are down $4.8 million or 26% from the June forecast, and recreation <br />and library revenues, which are down 1.3% from the June forecast. <br />The FY 2024-25 Adopted Budget assumed that the $20.890 million ending fund balance would be <br />8.A. - Page 3 of 70 <br />168