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Hemet staff presents FY25–26 midyear budget update; projection shows operating deficit under full‑spend scenario
Summary
Administrative Services Director Tiffany Barnett presented the midyear budget report showing adopted FY25–26 revenues and projected uses of one‑time funds. Staff said year‑to‑date general fund revenues were 24.2% as of Dec. 31, 2025, and presented a projection methodology that, if all budgeted revenues and expenditures occur, would show a $3.6 million operating deficit.
Administrative Services Director Tiffany Barnett presented the city’s fiscal year 2025–26 midyear update on Jan. 27, reviewing adopted budget assumptions and year‑to‑date results and noting how one‑time investments and interest income affected projections.
Barnett reminded the council the FY25–26 budget (adopted June 10, 2025) projected revenues of about $81,500,000 with use of one‑time fund balance of roughly $4.8…
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