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Huntington Beach midyear budget shows surplus driven by settlements and hiring savings
Summary
Finance staff told the council the city is forecasting no deficit for the fiscal year after midyear adjustments. A projected $7.5M revenue improvement (including an additional ~$3.3M from a waterfront settlement) and hiring savings produced a roughly $9.5M swing from prior projections; staff requested $1.47M in midyear adjustments.
City finance staff presented a midyear budget report that showed the city is not forecasting a deficit for the current fiscal year and is instead projecting a positive swing versus the adopted budget.
Key figures and explanation Staff identified total midyear appropriation requests of about $1,470,000 across infrastructure, grant, and special revenue funds. Major midyear funding requests included renovation funding for the Newland House Museum ($390,000), construction…
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