South Pasadena may have less money at the start of this fiscal year in its reserves than previously forecast, but should remain solvent, according to an update presented last week by financial experts cleaning up the city’s books and preparing the 2025-26 budget.
Accounting officials had expected the city to raise over $41 million over the course of the current fiscal year, which ends June 30. However, it’s on track to bring in only about $39.5 million, according to a progress report presented at a joint meeting of the South Pasadena City Council and Finance Commission on April 16.
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