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TA amends FY24‑25 budget, defers TIMA revenues and shifts projects to next fiscal year
Summary
The board reviewed a proposed FY24-25 budget amendment that reduces revenue by about $3.5 million and expenditures by about $8.9 million, largely driven by deferred TIMA work and slow reimbursement on certain SFMTA projects, producing a net increase in fund balance of roughly $5.4 million.
Finance Manager Lily Yu presented a proposed amendment to the adopted FY24-25 budget that would decrease revenues by approximately $3.5 million and decrease expenditures by about $8.9 million, yielding a projected net increase in fund balance of roughly $5.4 million.
Yu told the board the primary driver is timing: two large TIMA…
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