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Sunnyvale council accepts FY24–25 financial report and approves staff plan to allocate roughly $16.8M surplus
Summary
Council received an unmodified audit, heard staff recommend using a roughly $16.8 million one‑time surplus (majority to pension trust, library and infrastructure) and rejected a motion to reallocate more to homelessness and active‑transportation; staff recommendation passed 6‑0.
Sunnyvale City Council on Dec. 9 received the city’s FY2024–25 year‑end financial report and approved staff’s recommendation for one‑time allocations from an approximately $16.8 million surplus.
Finance Director Matt Paulin told the council revenues finished about 3% above projections, led by property and sales taxes, and that the city’s investments produced “over $7,000,000 to the general fund.” Auditors from Mason Associates delivered an unmodified (clean) opinion on the comprehensive annual financial report.
The staff recommendation — approved on a 6‑0 voice vote with Council Member Srinivasan absent — directs $8 million to an irrevocable pension…
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