Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Tustin Reports $4.4 Million FY 2024–25 General Fund Surplus; Council Approves Closeout Actions
Summary
City finance staff reported an unaudited $4.4 million general‑fund surplus for FY 2024–25 driven by higher sales tax receipts and departmental underspending; council approved supplemental appropriations and carryovers 5–0 and asked staff to present mid‑year forecasting improvements.
Tustin’s finance director told the City Council on Oct. 21 that the city closed fiscal year 2024–25 with an unaudited general‑fund surplus of $4,400,000 and a reserve balance just under $35 million. Director King attributed the improvement to sales tax receipts coming in roughly 5% above budget and to lower than budgeted departmental spending.
“On a recurring basis, the general fund is above budget by $3,000,000,” Director King said in the presentation, and he described recurring surplus of about $3.3 million and additional one‑time items that produced a total…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
