Overview
At June 30, 2024, El Centro's total net position was $225,223,264: governmental activities $167,737,322 and business-type activities $57,485,942. Components: $121,557,449 net investment in capital assets, $77,856,951 restricted, and $25,808,864 unrestricted. Governmental funds ended the year with combined fund balances of $139,344,520 — but the year itself was a spending year: governmental funds took in $59,157,798 and spent $72,286,801, a deficiency of $13,129,003, driven by capital outlay (the General Fund alone spent $11,856,360 on capital outlay, a quarter of its expenditures).
Source: City of El Centro ACFR, fiscal year ended June 30, 2024, Statements of Net Position and Governmental Funds.
At a glance — fiscal year ended June 30, 2024 (audited actuals)
Source: City of El Centro ACFR, fiscal year ended June 30, 2024.
General Fund — fiscal year ended June 30, 2024
| General Fund revenue | FY 2023-24 actual |
|---|---|
| Taxes | $33,713,539 |
| Licenses and permits | $366,618 |
| Intergovernmental | $8,393,807 |
| Charges for services | $1,120,816 |
| Fines and forfeitures | $40,393 |
| Interest and investment income | $1,625,264 |
| Other revenues | $1,323,705 |
| Total revenues | $46,584,142 |
| General Fund expenditure | FY 2023-24 actual |
|---|---|
| Public safety | $16,547,634 |
| Parks and recreation | $9,752,004 |
| Capital outlay | $11,856,360 |
| General government | $4,870,080 |
| Community development | $2,541,152 |
| Public works | $1,844,610 |
| Total expenditures | $47,411,840 |
Walk: revenues $46,584,142 − expenditures $47,411,840 = deficiency −$827,698. Ending fund balance $49,420,417 comprises restricted $4,624,607, assigned $88,278, and unassigned $44,707,532 — 90.5% of the balance is unassigned. The other governmental funds reconcile to the combined total: General Fund $49,420,417 + Special Revenue $1,151,377 + Capital Projects $40,150,375 + Nonmajor funds $48,622,351 = $139,344,520 (nonmajor: restricted $54,117,453 + committed $1,595,863 − unassigned deficit $7,090,965). Government-funds debt service for the year — principal $1,890,000 and interest/fiscal charges $2,466,330 — is reported as a government-funds total only, because the General Fund expenditure total as printed excludes debt service and attributing it to the General Fund would misstate the fund.
Source: City of El Centro ACFR, fiscal year ended June 30, 2024, Governmental Funds statements.
Debt & liabilities
Governmental-activities long-term items in the reconciliation include lease revenue bonds of $65,497,611 and revenue bonds of $1,324,209, plus advances from the Successor Agency of $9,568,435. The net pension liability is $55,033,932 on the reconciliation basis (the government-wide statement's governmental column shows $55,435,361 including internal service funds — the reconciliation figure is used here and the difference is noted, not hidden). Restricted net position of $77,856,951 breaks down as: housing $6,186,975; special projects $2,149,500; debt service $16,141,220; community development $35,219,798; asset forfeiture $757,897; public safety $1,534,587; streets and roads $11,346,849; pension plan $4,380,908; landscaping $139,217. The business-type side is dominated by the Hospital Fund (see the basis notice) and is not detailed here.
Source: City of El Centro ACFR, fiscal year ended June 30, 2024, Statement of Net Position and reconciliation.
Sources & notes
- Only source used: City of El Centro ACFR for the fiscal year ended June 30, 2024 (Moss, Levy & Hartzheim CPAs, unmodified opinion, based in part on other auditors for the Hospital Fund). Read the ACFR (EMMA).
- Sum checks: net position components $121,557,449 + $77,856,951 + $25,808,864 = $225,223,264; restricted components sum to $77,856,951; GF revenues sum to $46,584,142; GF expenditures sum to $47,411,840; GF deficiency −$827,698; governmental funds $59,157,798 − $72,286,801 = −$13,129,003; fund balances $49,420,417 + $1,151,377 + $40,150,375 + $48,622,351 = $139,344,520.
- Disclosed, not smoothed: (1) Hospital Fund other-auditor basis (see basis notice); (2) pension liability figure basis difference ($55,033,932 reconciliation vs. $55,435,361 statement column); (3) debt service shown as government-funds total only; (4) General Fund transfer/beginning-balance walk not separately extracted; (5) the FY 2025-26 budget ($162,458,817 per the inventory record) was not retrieved and is not used — this page is FY 2023-24 audit only.
- Fiscal-year label: fiscal year ended June 30, 2024 (FY 2023-24 actuals).
- Jurisdiction palette: no verified City of El Centro palette was on file, so this page uses the neutral Hometown Numbers dark-glass theme rather than a city color.