Item 07 - Carryover of Unspent Amounts from FY2024-25 to FY2025-26

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Carryover of Unspent Amounts from FY2024-25 to FY2025-26 October 7, 2025 Page 2 The following is a summary of all proposed carryovers from FY24-25 to FY25-26 Carryover Type General Fund ARPA Restricted Total CIP $ 47,129,662 $ 21 ,870,856 $ 268,254,350 $ 337,254,868 Equipment $ 4,275,507 $ 2,586,940 $ 3,184,683 $ 10,047,130 All Other $ 16,847,405 $ 1 ,524,916 $ 32,919,207 $ 51,291,528 Total $ 68,252,574 $ 25,982,712 $ 304,358,240 $ 398,593,527 The largest carryover projects continue to be Capital Improvement Program (CIP) projects, which account for nearly 85% of all carryover funds. The most notable CIP projects include the following: • Safe Routes to School (SRTS) Projects- $40.8 million • Bristol Street Widening- $38.3 million • Memorial Park & Aquatics Facility— $27.1 million • Main Library Renovation— $23.9 million • Warner Avenue Improvements- $20.4 million • Centennial Park Improvements— $7.8 million Together, CIP and grant projects represent the bulk of the City's carryover activity, primarily due to their multi-year nature and reliance on external funding sources or construction timelines. Staff has compiled a list of all carryover requests (Exhibit 1). These include items such as multi-year/capital grant projects, delayed purchases due to product availability issues, and various one-time projects approved for FY24-25 that were not completed by fiscal year-end on June 30, 2025. See Exhibit 1 for detailed information regarding each of the requested carryover projects. This file lists the accounting unit, description, amount, project status, and estimated completion date, if known. Because the City's legal level of budgetary compliance is at the fund and department level, the attached carryover lists include several negative amounts. These negative carryover amounts are paired with positive carryover amounts within the same fund and department. The offsetting negative and positive amounts are used to realign the budget among various accounting units within a single department and fund to reflect the remaining available resources, such as grants. Each amount on the list reflects the budget available one month after the close of FY24-25. Staff continued processing FY24-25 invoices through the end of August and are scheduled to complete reconciliations in October/November. The FY 24-25 ledger will not be finalized until the financial statements are audited in November/December. The actual carryover amounts will be limited to the available budget once FY24-25 is officially closed. Carryovers are summarized by fund in Exhibit 2.