Town Of Moraga

Council Approves Mid-Year Adjustments to FY 2014-15 Budget

On January 28, the Town Council reviewed budget-to-actual figures for the current fiscal year 2014/15. The budget is a working financial plan for the year based on estimated revenues and expenditures. Mid-year is a good time to check the progress of the budget, identify major variances and make adjustments if necessary. Council-approved budget adjustments included additional property tax revenues corresponding to an 8% increase in assessed valuations and Measure K sales tax with revenues expected to reach $1.58 million.

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