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Westminster projects $2 million increase in general fund at midyear; revenues up, vacancies reduce expenses
Summary
City finance staff told council the general fund is projected to end FY 2024–25 with a $2 million increase in fund balance, driven by stronger revenues and salary savings from vacancies; council received and filed the report.
City finance staff presented a midyear budget review on Feb. 26 showing Westminster’s general fund is projected to end fiscal year 2024–25 with an approximately $2 million increase in fund balance, up from a budgeted $1.9 million deficit.
The presentation focused on the general fund only. Staff said revenues are projected to be about $1.9 million higher than budgeted, mainly from higher charges for service, while sales-tax and transaction-use…
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