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Palo Alto committee approves FY2025 year-end actuals, sends memorandum to council
Summary
The committee voted unanimously to approve the city’s fiscal year 2025 year-end actuals and forward the memorandum to the council. Staff said revenues came in below adopted levels largely because an EPA reimbursement grant posted in the next fiscal year; base program expenditures tracked close to budget.
The Palo Alto Stormwater Committee approved a memorandum recommending acceptance of the city’s fiscal year 2025 year-end actuals and agreed to forward the memo to the City Council.
Michelle (presenter) told the committee the adopted FY2025 revenue estimate was about $10.319 million while actual revenues totaled $9.404 million, a shortfall she attributed mainly to timing on an Environmental Protection Agency (EPA) reimbursement grant. Michelle said the adopted budget included $1,216,000 of the EPA grant as anticipated revenue for FY2025, but only $208,000 was…
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