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Finance Committee forwards ACFR, recommends keeping $2M above BSR target
Summary
Staff presented the FY2025 Annual Comprehensive Financial Report, showing total governmental fund balance of $317.6M and a Budget Stabilization Reserve (BSR) of $58.8M; the committee unanimously voted to forward the ACFR and recommended keeping $2M above the 18.5% BSR target and to revisit BSR allocation policy.
The Palo Alto Finance Committee reviewed the FY2025 Annual Comprehensive Financial Report (ACFR) and year‑end budget adjustments on Dec. 2 and voted unanimously to forward the report and recommended budget changes to City Council.
Finance Manager Yvonne Collings summarized the ACFR, reporting total governmental fund balance of $317.6 million, a decline of $1.8 million from the prior year, and an unassigned fund balance of $52.8 million (about 16.6% of the total). “The budget stabilization reserve…
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