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Atherton staff reports midyear budget: projected surplus but multi-year BLF shortfalls flagged
Summary
Town staff told the council the midyear fiscal-year 25-26 report shows a projected net surplus and an ending fund balance around $10.5 million, but highlighted multi-year shortfalls tied to a property-tax-linked BLF and recommended treating ERAP receipts as one-time funding.
Unidentified staff presented the Atherton midyear budget for fiscal year 2025-26 and described the report as informational. "Midyear total fiscal year 2526 revenues are at $170,170,000.00," the presenter said, and cited a projected expenditure figure and a net positive position in the staff report.
The report identified two revenue items the town is watching closely. Staff said the property-tax-related BLF has produced a multi-year shortfall that, combined across years in the staff materials, amounts to a decline the presenter described as material and ongoing, driven in part by state-level actions and…
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