Temecula announces improved financial standing after projecting losses earlier in pandemic

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Temecula city council members listen as Jennifer Hennessy, finance director of Temecula, lays out the ways in which the city has received more revenue than initially projected at the start of the coronavirus pandemic.
The city of Temecula is in a much better financial position than was projected earlier in the coronavirus pandemic, a city financial official said. Jennifer Hennessy, Temecula’s finance director, told the city council, Tuesday, Oct. 27, that after projecting a loss of almost $15 million across the city’s major revenue sources between March and June 2020, the city now estimates that it only lost just under $5.2 million during that time period compared to what had been projected for the 2019-2020 fiscal year, leaving the city’s general fund with a $9.6 million surplus. “Now that we’ve closed the books, the results were much less devastating than we originally expected,” Hennessy said. Hennessy said major revenue streams that did much better than projected include sales t
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