Lawrence committee reviews 2024 year-end finances; council seeks solution after legal-services spending reaches about 40%

The City of Lawrence Common Council Administration Budget and Finance Committee on Feb. 19 reviewed the city's 2024 year-end financials, received a reconciliation update from outside auditors Baker Tilly and pressed staff for immediate action after council professional-services spending — including consulting fees — had already used about 40% of the council's legal-services line early in 2025.

Committee Chair (Councilor) opened the meeting at 5:02 p.m. and asked staff to present the cross-fund year-end report. Chief of Staff said she had a Baker Tilly letter updating bank reconciliations and read the firm's summary: “In general, while there are minimal outside outstanding items that we are analyzing, things at year end appear in good order.” The letter said the city's bank accounts totaled about $75 million across all funds as of Dec. 31, 2024, and that Baker Tilly staff were on-site to help ensure adjustments are posted to New World and to work on the city's annual financial report, which must be submitted to the State of Indiana by March 1.

Why it matters: The committee sought clarity on how those overall reserves translate to the general fund…