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Laguna Niguel council approves midyear budget changes, allocates $2.8 million surplus
Summary
Finance Director Merrick reported a $2.8 million FY24–25 surplus and recommended allocations to street infrastructure, facility maintenance and reserves and a change to the investment policy. Council approved the staff recommendations and Resolution No. 2026-1521 by a 4–0 vote.
Laguna Niguel’s City Council on Monday approved staff recommendations to allocate a $2.8 million operating surplus from fiscal year 2024–25 and to permit a new class of investments under the city’s investment policy.
Finance Director Merrick reported that the general fund ended FY24–25 with a $2,800,000 surplus and that the council had adopted a balanced FY25–26 budget in June. "The general fund ended the year with a $2,800,000 surplus," Merrick said during the midyear presentation, noting that revenues had come in over budget and operating…
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