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Placentia adopts FY 2025–26 midyear budget; reserves projected to fall to 17.9%
Summary
The council unanimously approved midyear adjustments projecting $2.1 million in net changes (chiefly $1.3 million for labor MOUs), a $1 million asset-forfeiture transfer, and a drop in general fund reserves from 25.03% to 17.87%; staff will return with further budget steps and a potential Q3 review in April.
The Placentia City Council on Feb. 17 adopted the FY 2025–26 midyear budget adjustments after a staff presentation that highlighted revenue upticks and significant labor-related cost pressures.
Director of Finance Gerry Griggs summarized the midyear outlook: overall midyear adjustments total about $2.1 million, of which roughly $1.3 million is for wage and MOU changes with bargaining groups. Griggs said the city is projecting about $61,000 more in property tax revenue and roughly $200,000 above budget for…
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