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Clearlake finance director says midyear budget 'mostly on track,' flags grant cash‑flow and audit actions
Summary
Finance Director Young reviewed midyear results through Dec. 31, 2021, noting the general fund is on track, $18M in awarded grants and cash‑flow risks owing to reimbursement timing and new HCD requirements; staff proposed modest adjustments and training to manage grant workload.
Clearlake — Finance Director Young told the City Council on March 3 that the midyear budget review shows the city is largely on track while noting cash‑flow challenges tied to reimbursement‑based grants and outstanding audit items.
"Main takeaway is we are mostly on track," Finance Director Young said, summarizing the city’s actuals through Dec. 31, 2021. Young told the council the general fund was about halfway through the fiscal year with roughly $4 million spent of an $8 million budget and that capital projects had spent just over $5…
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