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Huntington Beach projects FY 2024–25 surplus of about $2.3 million but flags reliance on one-time settlements
Summary
City staff presented a midyear fiscal update showing a projected $2.3 million surplus for FY 2024–25 if one-time settlement revenues are used to balance the year; staff warned sales-tax softness and built in potential special-election costs.
Deputy City Manager Jen Kerry presented a midyear overview of the city’s fiscal position for FY 2024–25, describing recurring and one-time revenues, current projections and key risks. Kerry said the city’s budgeted recurring general-fund revenues total approximately $293.5 million, with $10.9 million in one-time revenue currently included in the forecast.
Kerry told the council that one-time revenue in the projection includes about $6.9 million identified from a waterfront loan settlement and a net $4.0 million from an oil-spill…
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