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Finance director presents first quarterly financial report; grants transfers flagged for correction
Summary
Finance Director Anne presented the city's unaudited quarterly report for the period ending Dec. 31, 2024, showing a year‑to‑date increase in the General Fund driven by property tax receipts and flagging a negative balance in the Grants & Capital Projects Fund pending transfers.
Finance Director Anne presented Fairview's first quarterly financial report for the period ending Dec. 31, 2024, to the council on March 19.
All‑funds summary: the city began the quarter with a combined beginning fund balance of about $19.8 million, recorded roughly $5.0 million in quarter revenues and $3.3 million in quarter expenses, and closed the quarter with approximately $21.3 million. The General Fund showed a large increase in the quarter because property tax receipts are concentrated in November/December. Anne emphasized that the numbers are unaudited and likely will be adjusted as finance staff complete ledger…
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