City approves year‑end budget adjustments; general fund expenditures rise $110,679 (Resolution 2025‑57)
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Summary
The council approved Resolution 2025‑57 making year‑end adjustments to multiple funds. Staff presented revenue and expenditure changes and said the city’s reserves remained higher than originally projected despite some departmental overages.
The Waterford City Council unanimously approved Resolution 2025‑57 to make final year‑end budget adjustments for fiscal year 2024‑25.
Finance staff presented a breakdown of the requested changes: a $110,679 increase in general fund expenditures; matched adjustments to the gas tax fund of $22,301 in both revenues and expenses; a $224 increase in the local transportation fund; a $1,953 revenue increase and $1,985 expense increase to the city facilities impact fee fund; a $3,692 expense increase for parks and recreation; and a $1,541 expense increase for the Waterford Public Financing Authority.
Staff explained department variances. Planning ran over budget by $147,560 owing to unexpectedly heavy development activity; streets exceeded budget by $34,187 largely because of wages, equipment maintenance and emergency repairs; parks were over by $23,634 primarily for electrical repairs at the pavilion. Finance noted total general‑fund revenues actually exceeded budget projections by $166,654, leaving the overall general fund $55,975 in surplus versus the original budget.
Finance staff said the city had planned to use some reserves for a community center project and that the final reserve balance was higher than midyear estimates. After council questions and public comment, a motion to approve the resolution carried on a 5‑0 vote.