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Board accepts midyear budget update as county projects modest revenue slowdown; reserve policy changes recommended
Summary
County finance staff presented a midyear update showing a balanced three‑year forecast but recommended increasing an economic uncertainty reserve and prioritizing retiree liabilities and deferred maintenance. The board accepted the report and approved proposed reserve adjustments.
County finance staff presented a midyear budget update March 25 and the Board of Supervisors accepted the report and approved adjustments to reserves designed to increase the county’s fiscal resilience.
Josh (budget director) told the board that the county’s all‑funds budget for the current fiscal year is roughly $815 million and that most discretionary revenue comes from property tax. Staff reported a downgrade to the three‑year property tax growth forecast — now projected at roughly 4% in the next two years and 4.5% the following year — and noted fiscal risks tied to federal grants and uncertain…
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