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San Bruno projects modest $600,000 surplus but CFO warns of revenue shortfalls and legal uncertainty
Summary
City CFO Nick Feros told the council the general fund is forecast to finish FY24–25 with about a $600,000 surplus on a $67.12 million budget but flagged weaker-than-expected cannabis and parking revenues and an ongoing sales-tax reapportionment dispute with the state.
Nick Feros, San Bruno’s administrative services director and chief financial officer, told the City Council on March 11 that the general fund is projected to end fiscal year 2024–25 with “about $600,000” in surplus on a $67.12 million budget, but said several revenue risks remain.
Feros said three revenue categories have come in lower than the budgeted estimates: cannabis tax receipts, parking-related revenue and certain county apportionments tied to vehicle license fee/sales-tax calculations. “The cannabis operator had presented to the council a $1.4 million annual revenue and while…
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