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Stockton reports $37 million variance in FY23-24; council allocates $23.2 million to priority projects
Summary
City budget staff reported FY23-24 general-fund revenues of $325.6M versus a $305.4M budget and recommended dividing a roughly $37M year-end variance between reserves ($13.8M) and council priorities ($23.2M); council approved the recommended amendments and several allocations 7-0.
Emailed Arroyo, the city's budget officer, presented Stockton's fourth-quarter FY2023-24 budget status, describing preliminary, unaudited numbers and recommending budget amendments and allocations.
Arroyo reported approved general-fund revenues of $305,400,000 and year-end actual revenues of $325,600,000, with actual expenditures of $335,300,000. She said the net position was negative $9,700,000 but that…
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