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City finance staff present midyear budget update; council approves FY25 adjustments
Summary
Finance director presented a midyear update showing revenues roughly on target, two one-time state grants totaling about $6 million, and recommended budget adjustments; council approved staff recommendations unanimously.
The Santa Cruz City Council on Tuesday received a midyear fiscal update from Finance Director Elizabeth Cavill and approved staff-recommended adjustments to the fiscal year 2025 budget.
Cavill told the council the city adopted a balanced FY25 budget of about $150 million and is roughly 50 percent through the fiscal year on both revenues and expenditures. She said the apparent jump in revenues and expenditures between FY23–24 and FY25 reflects an accounting change in cost-allocation methods, not an operational surge. Cavill and…
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