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Bureau projects dwindling reserves, starts fee study to address structural gap
Summary
The Bureau of Household Goods and Services reported on Oct. 16 that it closed FY 2024–25 with about $10.86 million and projects a smaller 2025–26 balance of roughly $8.2 million, prompting a program-level fee study to address an expected structural gap.
The Bureau of Household Goods and Services reported on Oct. 16 that it closed fiscal year 2024–25 with an estimated fund balance of about $10.86 million and roughly 8.8 months in reserve, and projects a 2025–26 ending balance near $8.2 million, or about 6.5 months in reserve.
“1 of the main factors driving expenditure increases in the future is a result of personal service adjustments,” said Jennifer Tompkins, budget analyst with the California Department of Consumer Affairs (DCA), noting the budget office includes an ongoing 3% expenditure increase assumption to account for salary and retirement…
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