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Atherton staff reports $634,000 midyear surplus; ERAF and VLF items noted
Summary
The town’s midyear budget report projects revenues exceeding the adopted budget by about $817,000 and a net positive change of roughly $634,000, driven by increased property taxes and one‑time revenues including Caltrain mitigation funds; staff flagged VLF backfill and ERAF fluctuations for future budget work.
Town staff presented Atherton’s midyear budget report for fiscal year 2024–25 at the Feb. 5 study session, projecting higher revenues and a positive year‑end fund balance.
Finance staff reported projected total revenues of about $26.3 million, exceeding the adopted budget of $25.5 million by approximately $817,000. Expenditures were projected at about $21.2 million, up roughly $183,900 from the adopted budget primarily for one‑time operations and…
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