The City of Chino’s annual financial report for 2019-20 shows a decrease of $1.3 million in General Funds and year-end reserves of $60 million.
The audit was performed by an independent third party covering July 1, 2019 to June 30, 2020.
A Feb. 2 report to the city council from Finance Director Rob Burns states expenditures were under budget by $3.6 million or 5.15 percent because spending had been closely monitored by all departments.
Tax revenue was under budget by $1.5 million or 2.5 percent and sales taxes were down $3 million due to the shutdown of businesses from the COVID-19 pandemic.
Interest income was over budget by $1.2 million, licenses and permits were over budget by $1 million, and property taxes were up $1 million.
Transportation projects that did not occur as anticipated were included in the fiscal year 2020-21 budget.
To view the report, visit cityofchino.org.