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Council approves FY24-25 closeouts and carryovers; finance director warns of upcoming note renewals
Summary
The City Council approved FY24‑25 closeouts and carryovers, including transfers totaling $2,477,704 and a $5,830,000 additional appropriation for the Board of Education, while finance staff warned $35 million in short‑term notes come due in October.
The City Council and Board of Finance approved motions to close out the 2024–25 fiscal year, authorize fund carryovers into 2025–26 and make supplemental appropriations for the Board of Education.
Councilors voted to approve transfers totaling $2,477,704 within the general fund to close out fiscal year 24–25 and approved carryovers from FY24–25 to FY25–26 in both the general fund and the Community Development Block Grant fund. The council also approved an additional appropriation of $5,830,000 within the general fund for the Board of Education as of June 30, 2025.
Diane (Finance…
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