Bridgeport council amends 2024–25 budget, appropriates $3.15 million for capital and operating needs
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Summary
The council approved an ordinance to amend the FY2024–25 budget and appropriate $3,151,625 for operating and capital expenditures across general capital projects, the economic development fund, water capital and wastewater capital funds; finance staff outlined major line items and remaining bond balances.
The Bridgeport City Council approved an ordinance amending the fiscal year 2024–25 official budget and appropriating $3,151,625 for operating and capital expenditures.
Corey Ingram, the city's finance director, said the amendment accounts for projects and costs that were not finalized when the budget was adopted. He described a set of capital expenditures and operational items that have been incurred or are expected to be incurred this fiscal year, including an approximately $1.3 million sanitary sewer project expense and an increase in economic development incentives. "They had budgeted $20,000 of incentives, and they're well over that amount now. So we went and upped that budget to $250,000," Ingram said.
Councilmember Preston moved to approve the ordinance appropriating $3,151,625 to the general capital projects fund, economic development fund, water capital fund and wastewater capital fund; Councilmember Susan Kauffman seconded and the motion passed 3–0.
During discussion, staff summarized remaining bond balances: about $2.5 million available for street work, about $2.9 million remaining in the sewer bond, and roughly $3.7 million remaining in the water bond. City staff said the council may consider another amendment in August as additional project costs become clear.
