The Morning Report
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The city’s final projections are in for fiscal year 2006, which ends June 30, and revenues will come in $27.5 million higher than expected. Unexpected additional costs will account for $11.1 million of that sum.
The extra costs include: extra expenses at Qualcomm Stadium, the retention of an actuary to help the independent budget analyst with the 2007 budget and expenses in Councilman Jim Madaffer’s district.
That leaves $16.4 million. Whatever isn’t spent on any additional expenses incurred in the next month or so is slated to go into the city’s parched reserves. (Read an article we wrote last month about the state of the reserves, which took a beating this fiscal year at the hands of loads of consultant and legal bills.)
All those allocations are pending City Council approval.