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Controller projects nearly $400M year‑end balance but reserves remain below target
Summary
The Controller's nine‑month status report projects an ending general fund balance just under $400 million, driven mainly by stronger property tax receipts and improved public‑health reimbursements, while economic reserves are forecast at 5.9% versus a 10% target.
Michelle Eller Smith of the Controller’s office presented the nine‑month budget status report, which projects an ending general fund balance just under $400,000,000 — an improvement from the earlier projection of roughly $73,000,000. The office attributed most of the upside to stronger-than-expected property tax collections, fewer assessment appeal refunds, and better revenues and savings at the Department of Public Health and the Human Services Agency.
Elle…
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