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Council accepts third‑quarter financial report; staff recommends third‑quarter budget adjustments
Summary
Cupertino staff presented the third‑quarter financial report for fiscal year 2024–25, proposing modest budget adjustments including higher sales‑tax estimates, several defunds of completed capital or special projects, and carryover changes; the council accepted the report and approved the amendments.
The Cupertino City Council accepted the city manager’s third‑quarter financial report for fiscal year 2024–25 on May 20 and adopted a resolution approving budget modification 24‑25‑390, which adjusts estimated revenues and appropriations across funds.
Administrative Services Director Christine Alfaro and staff presented the report, which reflects the city’s finances as of March 31, 2025. Staff recommended a net increase in estimated revenues of about $5.4 million and a net decrease in appropriations of about $157,425 for the general fund, driven in part by a revision to the city’s sales‑tax projection and routine carryover adjustments for projects. The agenda materials show an overall projected increase in fund balance across…
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