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Finance director says Guadalupe faces at least $900,000 shortfall; audits could push gap to $1.7 million
Summary
Finance Director Martinez reported preliminary, unaudited March 31 financials showing expenses outpacing revenues and a current deficit of about $900,000; audit adjustments could increase the shortfall to roughly $1.7 million, prompting staff proposals to align expenditures and revisit the master fee schedule.
The Guadalupe City Council received an updated financial briefing April 14 from Finance Director Martinez showing the city at 75% of the fiscal year with expenses approximately 71% expended and revenues at 66% of projected. Martinez said the preliminary, unaudited report indicates a current budgetary deficit near $900,000.
Martinez cautioned that after correcting accounting and audit items the deficit could grow to…
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