Garden Grove

Council looks at financial picture

GARDEN GROVE City Council meets tonight and will be presented with an update of municipal finances (OC Tribune).

Another look at municipal finances will be presented to the Garden Grove City Council when it meets tonight (Tuesday).

The financial update, to be presented by Finance Director Patricia Song, projects a $3.2 million surplus for the 2019-2020 fiscal year, but a deficit for 2020-2021, largely because of the impact of the coronavirus.

Estimates of the red ink for next year range from $5.9 million to $20.3 million, depending on the income from sales and transient occupancy (hotel “bed”) taxes.

The city’s “stability reserve balance” was at $22.5 million, as of July 1, 2019.

The meeting is set for 6:30 p.m. in the Community Meeting Center, 11300 Stanford Ave. The meeting will be conducted telephonically.

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