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Stockton reports revenue beat and authorizes homeless assistance, tobacco enforcement grants
Summary
City CFO reported FY24–25 revenues exceeded estimates and the council accepted the fourth‑quarter budget status, authorizing $3.0M available for appropriation; council also approved homeless housing assistance allocations and a tobacco decoy enforcement grant, voting unanimously on those items.
Stockton’s chief financial officer told the City Council on Feb. 3 that the city exceeded its FY 2024–25 revenue estimate, collecting about $334.4 million against a budgeted $319.8 million, improving the general fund balance to approximately $57.7 million and leaving about $3.0 million available for appropriation after policy reserves.
"Our budgeted revenues were $319,800,000 and we actually collected $334,400,000," Gilbert Garcia, the city’s CFO, told the council during a presentation of the fourth-quarter status update. Garcia said stronger-than-expected property tax receipts, a redevelopment increment true-up and…
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