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Midyear report: Beaumont shows midyear surplus after $6.2 million state audit correction; staff recommends several budget amendments
Summary
Finance staff reported general fund revenues of $28.1 million and expenditures of $24.4 million at the fiscal midpoint and said revenues exceeded expenditures by about $3.6 million largely due to a $6.2 million one‑time sales‑tax audit correction.
Beaumont finance staff presented the city’s midyear budget report, reporting general fund revenues of $28,100,000 and expenditures of $24,400,000 as of Dec. 31, 2024. Staff told the committee that revenues exceeded expenditures by about $3,600,000 at the midpoint and that the general fund’s 16 percent cash‑flow reserve sits at $11,500,000.
Staff said a $6,200,000 one‑time audit correction from a fulfillment center—identified through the California Department of Tax and Fee Administration (CDTFA) audit and noted by HDL—accounted for the large sales tax increase relative to the…
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