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San Diego County projects $52.6 million year‑end general fund balance; officials warn of federal, state funding risks
Summary
County officials told the Board of Supervisors on May 20 that a third‑quarter review projects a $52.6 million year‑end general fund balance, but flagged continuing financial risks tied to potential federal and state budget changes, retirement fund returns and capital project timing.
County Chief Administrative Office staff and fiscal experts briefed the San Diego County Board of Supervisors on May 20 on the third‑quarter operational plan and budget status for fiscal year 2024–25, reporting a projected $52.6 million year‑end surplus in the general fund but cautioning that a number of economic and policy uncertainties could erode that cushion.
The presentation, led by county staff and financial officers including Chris Herrera, chief deputy treasurer, and Matthew Parr, director of economic development and government affairs, emphasized that the projected general‑fund result represents 0.7% of the general fund. Herrera said, “While inflation continues to moderate from previous highs, it remains above the Federal Reserve’s 2 percent target,” and noted elevated interest rates are…
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