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CAO: county faces roughly $3 million general‑fund shortfall next fiscal year; board sets status‑quo budget direction
Summary
The County Administrative Officer told the Board of Supervisors on March 11 that the county faces an estimated $3 million general‑fund shortfall for FY 2025–26 driven mainly by GASB 87 allocation changes, rising PERS liabilities and higher insurance premiums.
County Administrative Office staff presented the midyear fiscal review on March 11 and told the board the county faces an estimated $3 million general‑fund shortfall for FY 2025–26. The CAO attributed most of the gap to three primary factors: (1) accounting reallocations and cost shifts related to GASB 87 cost allocations (affecting internal chargebacks and the general fund), (2) higher annual PERS unfunded liability payments and (3) rising county insurance costs (liability and workers’ compensation).
Key numbers staff presented: - Projected carryforward…
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