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San Gabriel projects $1.65 million General Fund increase; reserves now 41.3% of expenditures
Summary
Finance Director Will Kahulakula reported preliminary fiscal-year 2024–25 results showing a $1.65 million net increase in the General Fund and an unrestricted reserve of $22.8 million, equal to 41.3% of general fund expenditures — above the city's 25% rainy-day target.
Finance Director Will Kahulakula presented preliminary General Fund results for the fiscal year ending June 30, 2025, to the San Gabriel City Council on Oct. 21, saying the city projects a net increase in fund balance of $1,650,000 and an unrestricted fund balance of $22,800,000.
"The General Fund is projecting a net increase in fund balance of 1,650,000.00," Kahulakula said. "This is the seventh year in a row with a positive net change in fund balance." He told council that the unrestricted reserve equals approximately 41.3% of general fund…
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