Mill Valley finance director reports FY2024 on budget, notes $6.6 million property-tax transfer to Southern Marin

City Finance Director Eric Erickson told the Mill Valley City Council that the city “relinquished $6,600,000 worth of property tax revenue to Southern Marin” under a council‑approved formula and otherwise closed fiscal year 2024 roughly on budget, with reserves above policy levels.

The report, presented during the council’s regular meeting, said the city maintained its 15% restricted contingency reserve required by council policy and finished the year with an overall fund balance the finance director described as “about 24%” when measured against operating expenses. Erickson cited stronger‑than‑expected receipts from building and encroachment permits and investment income as the primary drivers of positive revenue variances.

Why it matters: the transfer and consolidation of fire services to Southern Marin changes how Mill Valley records fire expenses and…