Los Gatos successfully balanced its budget for fiscal year 2025-26, overcoming a $2 million deficit primarily through significant cuts and reserve funds. The budget totals around $60 million but projects ongoing revenue shortfalls, potentially leading to a structural deficit of $5-$6.5 million over the next five years. Key funding cuts include reductions to library services, legal fees, and resources for the homeless. Mayor Matthew Hudes highlighted improved financial management but acknowledged ongoing fiscal uncertainty and the need for close monitoring moving forward.
Mayor Matthew Hudes emphasized, "the budget is tight, and therefore we have to watch things more closely, but at this point no significant cuts."
Despite budget cuts, Mayor Hudes remains optimistic, stating, "we will work diligently to address impending shortfalls" and ensure effective financial management.
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