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San Bernardino projects mid‑year $14M revenue shortfall, eyes street repairs after bids come in under estimate
Summary
City staff reported a mid‑year revenue shortfall of about $14 million and an expected fund balance of roughly $200 million; six bids were received for pavement repairs and the lowest came in under the $6 million engineer's estimate, with a contract recommendation slated for the May 7 council meeting.
City staff delivered a mid‑year financial update to the San Bernardino City Council on March 19, reporting lower revenue and expenditure projections for fiscal year 2024‑25 and presenting a near‑term plan for street repairs and next steps on the 2025‑26 budget.
Finance staff said the city expects revenues to be roughly $14 million below the adopted budget and expenditures about $13.2 million below the adopted budget. Staff emphasized a conservative revenue projection for the remainder of the fiscal year, citing slowing consumer spending, weaker sales and use taxes and reductions in transient occupancy and property transfer taxes.
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