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San Gabriel midyear budget shows $1.4M projected deficit but reserves stay above policy level
Summary
Finance staff reported a midyear FY25–26 projection that raises expenditures by $2.4M and projects a $1.4M deficit, offset by an ending general fund balance of about $21.5M (roughly a 36% reserve), and proposed midyear adjustments including a $185,000 transfer to the Mission Playhouse.
City finance staff told the San Gabriel City Council on March 17 that midyear projections for fiscal year 2025–26 forecast higher expenditures and a modest midyear shortfall while reserves remain well above the city’s policy target.
Finance Director Wilco Holacula said the city adopted a FY25–26 budget with $57.7 million in revenues and $56.8 million in expenditures (a $933,000 net change). At midyear, revenues are projected effectively flat (about $24,000 higher than adopted) but expenditures are projected $2.4 million…
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