Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Midyear review: Fortuna still faces a general‑fund deficit despite CalPERS payment savings
Summary
City staff reported the general fund ended FY24‑25 with a $180,000 deficit and project a FY25‑26 deficit of about $1.75 million; removing a $1.5 million discretionary CalPERS payment leaves an adjusted deficit of roughly $254,000.
Fortuna — City staff presented a midyear review for fiscal year 2025–26 that shows mixed revenue signals and a continuing general‑fund shortfall.
Finance presentation materials reviewed by staff show that tax and fee revenues were essentially flat year over year, with only a $17,000 increase, while sales tax revenue remains below the peak of FY21‑22. The city ended FY24‑25 with a $180,000 net deficit, driven primarily by three items that rolled into that year: vehicle purchases from a prior budget, a delayed chimney‑repair project…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
