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Hawthorne reports midyear budget gaps, plans $20 million short-term investment to bolster earnings
Summary
Finance Director Felice Lopez told council the city’s pooled cash was $78.14 million as of Dec. 31, 2025, with a $21 million shortfall in restricted grant reimbursements and ~ $2.7 million in revenue reductions; staff proposed investing $20 million in 3–5 year securities to lock higher rates and recoup roughly $800k–$900k in annual earnings.
Felice Lopez, Hawthorne’s finance director, presented the city’s midyear financial report and recommended an investment action to help recapture lost investment earnings.
Lopez reported a pooled cash balance of $78,140,000 as of Dec. 31, 2025 and said restricted grant reimbursements lagged, creating a roughly $21,000,000 deficit in the grant/restricted fund balances. She detailed revenue shortfalls of approximately $2.7 million year-to-date, primarily driven by…
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