FV Newsletter

Mar 20

[ARCHIVED] Mid-Year Budget Update

The original item was published from March 20, 2019 9:49 AM to March 20, 2019 9:50 AM


On March 5, 2019, the City Council set aside $2.8 million in additional funds to continue building reserves based on the Mid-Year Budget Report for Fiscal Year 2018/19, which shows General Fund operating results projected to be approximately $2.8 million higher than the original budget. The actions taken by the City Council shows the fiscally conservative steps the City Council has made to ensure reserves are replenished and CalPERS pension obligations are met. The City is on a solid path towards long-term fiscal sustainability. The Mid Year Budget Report can be found here: https://www.fountainvalley.org/231/Finance.