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Dana Point closes FY25 with higher‑than‑expected revenues; council approves use of excess reserves for capital projects
Summary
City staff reported unaudited fiscal year 2024‑25 results showing higher transient occupancy tax and investment earnings; council approved staff recommendations to appropriate excess unassigned fund balance for reserves and capital projects and to authorize a hazard mitigation grant match.
City staff reported the fiscal year 2024‑25 fourth quarter results to the Dana Point City Council on Sept. 16 and the council approved the recommended budget adjustments and carryovers for fiscal year 2025‑26.
The staff presentation said unaudited general fund revenues totaled about $53.7 million, roughly $3.7 million above budget. Transient occupancy tax (TOT) revenue was reported at about $17.3 million — $1.4 million over budget and $416,000 above the prior year — with stronger receipts in the first half offset by some softness in the second half tied to a large…
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