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Mountain View midyear budget: revenues flatten, expenditures rising; council restores small community grants
Summary
City staff reported a smaller-than-expected operating balance for FY24-25, projecting tighter finances in FY25-26 as revenues flatten and expenditures rise; council approved midyear amendments including restoring a "Community for All" grants program and other allocations.
Mountain View council on Feb. 25 received the city—s midyear budget status report showing modestly higher-than-adopted revenues for FY2024-25 but an overall slowing trend that, combined with rising expenses, narrows next year—s projected operating balance.
Assistant Finance and Administrative Services Director Grama Zhang and Finance Director Derek Rampone presented the update, noting the city—s long-standing fiscal prudence and current AAA credit recognition but cautioning that revenue growth is slowing. "Revenue growth is expected to be minimal with expenditures increasing at a higher rate than revenues," Zhang said, summarizing the forecast staff will use for the FY25-26 budget.
Staff estimated the…
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