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Council adopts midyear budget adjustments; approves reserve changes and pension trust contribution
Summary
The Moraga Town Council approved midyear operating budget adjustments, authorized transfers of FY 2023–24 excess general‑fund balance to capital and pension accounts, and reviewed a 10‑year forecast that signals deficits without new revenues or ongoing balancing steps.
The Moraga Town Council on March 12 adopted several budget actions: midyear adjustments to the fiscal year 2024–25 general fund, midyear adjustments to the Hacienda de las Flores operating budget, and an updated reserve policy that reallocates a portion of FY 2023–24 excess unassigned fund balance to capital and pension funds.
Administrative Services Director Katie Bruner presented midyear revenue and expenditure results through Dec. 31, 2024 and recommended limited revenue increases (about $50,000 in property tax and roughly $66,000 in Parks & Recreation revenues) and…
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