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Council adopts second budget amendment for FY 2024–25, narrows projected deficit
Summary
City council adopted the second round of budget amendments for fiscal year 2024–25, reducing the projected general fund deficit from $306,000 to about $60,000 and recognizing new revenues including $757,000 in marijuana-license receipts and increased building-permit income.
The Coldwater City Council approved the second set of budget amendments for fiscal year 2024–25, a “cleanup” package that reduces the general fund’s projected deficit and records several realized revenues and expense adjustments.
Tom, the finance director, presented the amendment and said the package replaces a previously budgeted $306,000 deficit with a smaller $60,000 deficit. New revenues added…
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