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Grass Valley council accepts midyear budget adjustments as sales tax forecasts decline
Summary
At its March 25 meeting the Grass Valley City Council accepted midyear budget adjustments after staff warned sales-tax revenue forecasts have softened, pointing to projected shortfalls and rising insurance and pension costs.
Grass Valley — The City Council on March 25 accepted midyear adjustments to the fiscal 2024–25 budget after staff warned that sales-tax receipts are weakening and certain costs are rising.
Deputy Finance Director Jennifer Strychinski told the council that sales-tax forecasts show a statewide leveling and local decline, and that the city currently projects about $534,000 less in general-fund sales tax this fiscal year and roughly $340,000 less in the Measure E fund. She said those declines are the principal driver of the midyear adjustments and advised caution as staff and consultants continue to refine monthly…
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