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Buena Park Finance Director Reports Strong Sales Tax; Council Reviews Measure R Priorities and Midyear Carryovers
Summary
Finance Director Seung Hyun reported sales tax and other revenues came in stronger than expected for FY 23/24, lifting the general fund reserve to roughly $39.9 million; staff proposed Measure R priorities including 10 public‑safety positions and several infrastructure projects, and requested carryover of grant funds and capital items.
Buena Park — At a study session Tuesday evening, Finance Director Seung Hyun presented the city’s midyear budget review, reporting that sales tax and other revenues came in modestly ahead of projections and that the city ended FY 2023–24 with a general fund reserve near $39.9 million.
"The biggest anomaly would be sales tax revenue," Seung Hyun said, summarizing comparative actuals for FY 22/23 and FY 23/24 and noting an increase versus budget. He told council the sectors performing well included autos, restaurants and hotels, and that staff is adjusting the current fiscal‑year sales‑tax forecast upward as a result.
The presenta…
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