Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Adelanto officials say budget is balanced but still faces a structural shortfall
Summary
City finance staff told the Adelanto City Council the FY24''5 budget is balanced on paper thanks to one-time funds, but projected revenues of $21.3 million fall short of $22.8 million in expenses; staff said a midyear adjustment and continued grant pursuit are planned.
Adelanto city leaders presented a cautiously optimistic fiscal picture Sept. 25, saying the city has a balanced budget for fiscal year 2024''5 but continues to face a structural funding gap.
Finance advisor Julio told the City Council the most recent projections show $21,300,000 in projected revenues against $22,800,000 in projected expenses, leaving a deficit the staff plans to address in part with one'time monies and by pursuing grants and cost adjustments. "We have $21,300,000 in projected revenues and $22,800,000 in projected expenses," Julio said during…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat