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San Gabriel council adopts midyear budget adjustments, keeps reserves above policy minimum
Summary
Council approved midyear adjustments to the FY 2024–25 budget, projecting slightly higher revenues and expenditures and maintaining a reserve above the city's 25% target.
The San Gabriel City Council voted unanimously to accept the city’s fiscal-year 2024–25 midyear budget update and adopt Resolution No. 25-13, which adjusts appropriations and leaves the city’s reserve well above the policy minimum.
Finance Director Will Kahulakula told the council that after actual receipts through Jan. 31, the general fund revenues are projected to be $434,000 higher than adopted and expenditures $1,120,000 higher, producing a projected net decrease…
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