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San Dimas council approves midyear budget adjustments, $500,000 appropriation toward PERS liability
Summary
City staff reported midyear finances showing sales-tax corrections and strong interest revenues; council approved budget amendments including a $500,000 one-time appropriation of surplus funds to reduce the city’s unfunded PERS liability. Vote was 5-0.
The San Dimas City Council received a midyear budget update and approved budget amendments that include a $500,000 appropriation of surplus funds to reduce the city’s unfunded Public Employees’ Retirement System (PERS) liability.
Michael O’Brien, administrative services director, reviewed revenues and expenditures year-to-date, noting a projected sales-tax shortfall of about $500,000 driven partly by changes in how large online retailers attribute point-of-sale to distribution centers. He said…
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