Tiburon projects $227,000 deficit on draft $13.04 million budget

June 11, 2020

After several years of operating with a surplus, the town of Tiburon is projecting a quarter-million-dollar budget deficit in fiscal 2021, largely due to projected declines in sales and hotel taxes caused by the coronavirus-related economic shutdown. The town’s draft $13.04 million budget projects $12.8 million in revenue for a deficit of $227,548 that would require the town to dip into its general-fund reserve to close the gap. However, after reviewing the draft at its June 3 teleconference meeting, several members of the Town Council urged staff to scrutinize budget line items before bringing the package back for approval on June 17 to see where additional cuts could be made.

 

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