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Half Moon Bay council adopts midyear amendment, boosts reserves
Summary
The City Council unanimously adopted a midyear amendment to the FY2025–26 operating and capital budget after a staff presentation showing stronger‑than‑expected transient occupancy tax (TOT) receipts; the council approved replenishing reserves and small accounting adjustments.
The Half Moon Bay City Council on March 3 adopted a midyear amendment to the FY2025–26 budget after receiving a staff midyear review showing higher transient occupancy tax and modest revenue gains.
Finance staff said transient occupancy tax (TOT) receipts have recovered since last year and that current trends support a revised year‑end TOT estimate of about $9.9 million, higher than the $8.6 million adopted budget figure. Property tax timing effects and Measure R sales tax receipts…
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