Budget in Brief for Fiscal Year 2023-25
This Budget in Brief has been prepared to provide an overview of the City's biennial budget information in a user-friendly and manageable format for the public to read, which builds on the City's commitment to fiscal stewardship and transparency.
Adopted Biennial Budget for Fiscal Year 2023-25
Budget Public Hearing for 2023-25
Brea City Council approved a budget for fiscal year 2023-24 and 2024-25 following staff presentations and public hearings at their meeting held on June 20, 2023 City Council Meeting. Click here to view the meeting presentation.
The following budgets were presented:
- FY 2023-25 General Fund Operating Budget
- Successor Agency to the Brea Redevelopment Agency Operating Budget
- Brea Public Financing Authority Budget
- Brea Community Benefit Financing Authority Budget
- Seven-Year Capital Improvement Program (CIP) Budget
Various funding sources are used to meet public works needs. These are carefully planned and closely monitored through Brea’s Proposed 7-Year Comprehensive CIP Budget.
Annual Comprehensive Financial Report (ACFR)
The city produces the ACFR on an annual basis. This report contains Brea’s audited financial statements and a statistical section, as well as management’s discussion and analysis of the fiscal year reported. The ACFR contains more information than standard audited financial statements. The report is subject to review by the city’s auditors to insure that it is prepared in accordance with generally accepted accounting principles and that the amounts and disclosures are fairly presented in all material respects. The City Council annually receives and files the ACFR.
The city participates in the annual financial statement award program sponsored by the Government Finance Officers Association. Brea has won many awards for its presentation of the ACFR.
Annual CFD Financial Reports
Brea has seven CFDs. Annually, special taxes are levied and collected to pay for the annual costs associated with these CFDs. There are four bonded CFDs in which the special taxes are used to make payments related to bonds that were issued for the benefit of the CFD. There are three non-bonded (public) services CFDs in which special taxes are used to pay the annual public safety and maintenance costs associated with the CFDs.
Per Government Code Sections 50075.3 (Report on Special Taxes) and 53411 (Report on Bonded Proceeds), view the Annual Financial Reports for Community Facilities District for fiscal year 2019-20.