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City treasurer reports first-quarter finances; council receives and files report amid questions about cannabis tax revenue
Summary
The city treasurer reported October 31, 2025 cash & investments of $13.78 million and first‑quarter revenues of $916,866 (with cannabis business tax cited as the largest source). Council moved to receive and file the treasurer and quarterly reports after limited public questions about how cannabis revenue is applied.
City Treasurer Liz presented the City of Laguna Woods’ financial snapshot as of Oct. 31, 2025: total cash and investments were $13,778,610; General Fund operating cash and investments were $5,995,281 and general fund reserves totaled $4,651,600. Special revenue funds showed an ending balance of $3,100,000.
Liz reviewed transactions and activity in October 2025, including a $750,000 transfer from a LAFE account…
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