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City projects a small general-fund shortfall; schools report larger projected deficit
Summary
Finance staff reported January 2025 monthly financials showing a projected general-fund shortfall of roughly $3 million (before use of an assigned $3 million school fund balance), higher projected school-district deficit and offsets from stronger-than-expected tax and permit revenues.
City finance staff reported the monthly financial report for January 2025, projecting a general-fund deficit that staff said would be largely covered by a previously assigned fund balance earmarked for education.
The report matters because it provides a near-term snapshot of revenues and expenditures that inform budget monitoring and potential intra-year transfers.
Finance staff said the city was projecting approximately a $3,000,000 deficit in the general fund as of the January report but noted that $3,000,000 of the beginning fund balance had been…
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