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Board of Finance approves year-end transfers, preserves about $1.45M of fund balance; vehicle replacement transfer sent to council
Summary
The city Board of Finance on Sept. 16 approved year-end budget transfers for FY24–25 and FY25–26 that increase year-end transfers by $560,756, leaving roughly $1,451,000 of a $3.9 million fund-balance appropriation unspent. The board also approved a $601,976 vehicle-replacement transfer contingent on city council approval.
The Board of Finance approved year-end budget amendments and transfer requests on Sept. 16, 2025, authorizing $560,756 in transfers for fiscal year 2024–25 and accepting related FY2025–26 adjustments; the board also approved a separate $601,976 transfer for vehicle replacement contingent on city council approval. The actions allow finance staff to complete year-end closeout and submit the trial balance to auditors by the Sept. 19 deadline.
Why it matters: The transfers change how much of a previously appropriated $3.9 million from fund balance is used to balance FY24–25. After the approved transfers, the board reported the expected use of fund balance would be roughly $2.4…
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