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Council accepts fiscal year-end financial report showing higher‑than‑budgeted TOT and stronger reserves
Summary
Council received and accepted the city’s unaudited financial report for the quarter ended June 30, 2025. Staff reported transient occupancy tax and sales tax exceeded budget and the city’s unassigned fund balance rose to an estimated $3.3 million in the current budget projection.
The Half Moon Bay City Council accepted the unaudited financial report for the quarter ended June 30, 2025, after a staff presentation on revenues, expenditures and fund balances for the fiscal year.
Finance staff noted the numbers presented are unaudited: “every number you see here is unaudited,” the presenter said. The report showed transient occupancy tax…
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