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City releases preliminary FY2025 fourth-quarter results; shortfall expected to be larger than budgeted
Summary
City staff reported preliminary fiscal year 2025 results, showing a larger-than-budgeted general fund deficit driven primarily by weaker sales-tax receipts; staff warned figures are preliminary pending year-end close.
The Santa Barbara City Council reviewed preliminary fourth-quarter financial results for fiscal year 2025 on Sept. 16, 2025, with Finance Director Keith Demartini reporting a preliminary general-fund shortfall larger than the amount the council adopted in June. Demartini said staff currently project a fiscal-year deficit of about $6.8 million, compared with an adopted FY2025 general-fund budget that assumed a $4.6 million deficit (not counting amounts necessary to meet the city's reserve target). The finance director said that number may improve modestly after final…
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