Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Half Moon Bay council approves mid‑year budget amendment, cuts print magazine funding
Summary
The City Council approved an amendment to the fiscal year 2024–25 operating and capital budget after a mid‑year review showed revenue softness and a growing structural gap. Council voted to shift the citywide quarterly magazine from print to an online edition and to adopt conservative revenue estimates for transient occupancy tax.
The Half Moon Bay City Council on March 4 adopted a mid‑year amendment to the fiscal year 2024–25 operating and capital budget after staff warned of lower revenues and rising costs.
City Finance Director Ken (last name not specified in the record) told the council the revision reflects weaker-than-expected transient occupancy tax (TOT) and sales tax receipts and recommended a conservative TOT estimate of $8.3 million. He said the net recommended revenue adjustment is roughly a $200,000 downward change and total expenditure adjustments amount to about $226,000. Under the revised plan, unassigned fund balance would fall to roughly $1.0 million and reserves would remain about $8.6 million.
The budget discussion came as…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
