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Scotts Valley City Council adopts midyear budget amendment amid lower sales tax and delayed federal reimbursements
Summary
The City Council approved Resolution No. 630.44.1 to amend the FY 2024–25 budget after staff warned of declining sales tax projections and $1.4 million in Federal Highway Administration expenses that will be reimbursed later.
Scotts Valley City Council on Feb. 18 approved a midyear amendment to the fiscal year 2024–25 budget after staff reported weaker sales-tax projections and temporary general-fund constraints tied to delayed federal reimbursements.
Finance staff presented the midyear review and the recommended amendments, telling the council that the FY 2023–24 audit closed about $800,000 better than budgeted, but the city must recognize roughly $1.4 million in Federal Highway Administration (FHWA) expenses in the general fund before reimbursement. City Manager Lagot and the…
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