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9 Q4 F I N A N C I A L H I G H L I G H T S FY 2025 C A RY, N O RT H C A R O L I N A F Y 2 0 25 4 T H Q U A R T E R R E P O R T U T I L I T Y F U N D F Y 2 0 2 5 Q 4 U T I L I T Y F U N D S U M M A RY FY 2025 ADJ BUDGET FY 2025 YTD ACTUAL % OF BUDGET FY 2024 YTD ACTUAL CHANGE FROM PRIOR YEAR ($) CHANGE FROM PRIOR YEAR (%) Revenues $ 110.9 $ 90.6 82% $ 87.3 $ 3.3 4% Expenditures 110.9 79.5 72% 90.9 (11.4) -13% T O TA L R E V E N U E OV E R / ( U N D E R ) E X P E N D I T U R E S $ - $ 11.1 - $ ( 3 . 6 ) $ 14 . 7 > 10 0 % * The above table is in millions. Revenues, authorized expenditures, and transfers between funds are classified and summarized differently for the Council budget ordinance and for accounting and reporting purposes. Individual line items are consistent. The annual budgets referred to throughout this report reflect the budget as of the quarter end as adjusted (ADJ) by Council action or staff action where authorized. As of the fourth quarter, no significant or unusual variances have been identified in the Utility Fund. Net results for FY 2025 show a 4% increase in revenue and a 13% decrease in expenditures compared with the same period in FY 2024. The modest rise in utility revenues aligns with the 3% rate adjustment for water and sewer services approved in this year's budget. The reduction in expenditures reflects staff's ongoing efforts to take a disciplined approach to expense management while positioning the Utility Fund to meet future capital needs. Part of this variance is also due to a delay in reimbursement of the General Fund for Public Works support; those payments will be processed as part of the year-end closeout and reflected in the ACFR. As of quarter-end, encumbrances, which are funds committed for future purchases, totaled $30.5 million.

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