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Tiburon projects ‘status quo’ balanced budget for fiscal 2025

Tiburon will give raises to its employees while also directing $300,000 each toward a long-awaited traffic study on Tiburon Boulevard and electric-vehicle charging stations as part of its proposed $23.1-million budget for fiscal 2024-2025.

 

The draft budget, reviewed by the Town Council at its June 5 meeting, shows a $16.69-million operating budget against $16.71 million in revenue, leaving a $20,087 surplus. The remaining $6.41 million from the overall budget covers the town’s pass-through debt service and equipment- and technology-infrastructure upgrades and includes $4.24 million in proposed capital improvements.



Of those improvements, about $1.81 million will go toward community projects, including the traffic study and charging stations as well as toward an analysis of the economic sensibility of remodeling or rebuilding the town’s corporation yard behind Reed Elementary School.

 

The town’s expenditures for the current fiscal year, which ends June 30, are at $14.26 million, $2.16 million less than what was approved under the fiscal 2023-2024 budget. That additional money will boost the town’s total reserve to $20.41 million at the start of fiscal 2025.


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