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Chino council hears midyear budget review as staff recommends $7 million transfer from internal funds
Summary
The Chino City Council on April 1 received a midyear budget review from Finance Director Kim Sowell showing a decline in several revenue categories and recommending adjustments to balance the fiscal year.
The Chino City Council on April 1 received a midyear budget review from Finance Director Kim Sowell showing a decline in several revenue categories and recommending adjustments to balance the fiscal year.
Sowell told the council that staff had identified about $16 million in downward adjustments to revenue estimates, driven largely by delays in several large multiunit development projects; she said those delays reduced user fee and development impact fee receipts. “Because of these delays in the developments, it also impacted the development impact fee funds,” Sowell said.
The presentation laid out specific changes…
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