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City staff warn FY25 revenues slipping; IBA flags reserve shortfall and overtime pressures
Summary
City finance staff and the independent budget analyst told the San Diego City Council that first-quarter monitoring shows major general-fund revenues about $10 million under the FY25 budget, rising public-safety overtime and a reserves gap that could require a $31.2 million contribution to meet policy targets.
City finance staff and the Independent Budget Analyst (IBA) told the San Diego City Council on Dec. 16 that the city's first-quarter budget monitoring shows material pressure on several revenue sources and rising expenditure risks.
Assistant Director Ben Vitaglia and financial operations manager Chris Purcell outlined department projections showing "major general fund revenues are currently projected at 10,100,000.0 below budget," driven principally by weaker sales tax and transient occupancy tax (TOT) receipts. Purcell said the Department of Finance reduced growth rates for sales tax and TOT to reflect recent trends, and that several departmental revenues…
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