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San Jose council adopts 2024–25 midyear budget adjustments amid sales-tax shortfall; vote 10-1
Summary
City staff reported a projected $25 million–$30 million sales-tax shortfall and recommended limited technical adjustments and reserve draws; council approved the midyear budget report 10–1 after public comments urging no layoffs.
San Jose City Council adopted a set of midyear budget adjustments for fiscal 2024–25 on Feb. 11, approving staff's recommended technical changes and one-time uses of reserves to cover emerging costs after staff reported a projected $25 million to $30 million shortfall in sales-tax revenue.
The midyear review presented by Jim Shannon of the city manager's budget office said revenues are generally tracking as expected, but sales-tax receipts have underperformed. Shannon said the city tentatively projects a $25 million to $30 million shortfall in sales-tax revenue and currently expects roughly $10 million in expenditure savings for the year that will help offset the gap. "We expect that figure to grow," he said of the savings.
The report recommended recognizing several grants and reimbursements, making targeted expenditure adjustments and using…
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