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Council receives midyear budget update, adopts amendment tied to Resolution 76.26
Summary
Council received the FY 2024–25 midyear budget update, discussed revenue pressures including softer sales tax and a Measure GG estimate of $3 million, and approved a budget amendment under Resolution 76.26; the motion carried 5-0.
The Seal Beach City Council received a midyear general fund budget update and adopted a budget amendment identified in the staff report as BA 205-91 by approving Resolution 76.26.
Finance Director Arenado presented revenues and expenditures through the second quarter and said that overall revenues are coming in slightly lower than projections, primarily due to a slowdown in sales tax receipts. Arenado noted that property tax—roughly 35% of the general fund—was trending as expected and that sales tax results were down in the third quarter; she said, "our Q3 results were down 4.6% compared to last…
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