In a recent government meeting, officials reviewed and approved the fiscal year 2025 operating and capital budgets, highlighting significant financial projections and allocations. Jeff Wong presented a recap of the proposed budget, which anticipates operating revenues of approximately $211 million and operating expenses averaging $136 million. This results in an operating income of $74.8 million, with a bottom line of $70.3 million after accounting for non-operating revenues and expenses.

Wong emphasized that the budget allows for continued payments on $340 million in bonds, ensuring the government can meet its financial obligations. The capital budget for FY 2025 is projected at $974 million, with $161 million funded through federal infrastructure support, representing 93% of the total funding for new projects.

During the discussion, concerns were raised regarding specific elements of the budget, particularly a bonus plan and a matching contribution for employee compensation. One official expressed opposition to these components, advocating for a more equitable distribution of funds among employees.

Despite the dissenting opinion, the budget was ultimately approved with a vote of 4 to 1. The meeting concluded with recognition of the team involved in the budget process, underscoring the collaborative effort required to finalize the financial plans for the upcoming fiscal year.