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Riverside LAFCO midyear budget shows modest surplus amid lower revenues and office relocation costs
Summary
Executive Officer Gary Thompson told commissioners midyear revenue is tracking about 5.3% under budget and expenditures about 6% under, projecting a modest surplus after adjustments; staff cut consultant spending and noted roughly $50,000 in relocation costs.
Gary Thompson, Riverside LAFCO’s executive officer, summarized the commission’s midyear budget on Feb. 26, saying revenues are tracking below budget and expenditures are also below projections but, after internal adjustments, the commission still expects a modest surplus. "We're probably going to finish the year under budget," Thompson said, adding revenues are estimated to end the year about 5.3% below budget while expenditures —…
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