Nhat V. Meyer/Bay Area News Group Customers dine at Gardino’s Ristorante Italiano along North Santa Cruz Avenue in Los Gatos in this 2020 file photo. Instead of the $3.2 million deficit projected for the 2022-23 fiscal year, the town is looking at a $700,000 surplus, in part because property, business and hotel taxes brought in more money than expected.
Los Gatos staff are projecting a $3 million annual budget deficit over the next five years, which could threaten the town’s services, town staff said at a Feb. 21 council meeting.
This figure is $1 million higher than last year’s five-year forecast, which identified a