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City presents fiscal year 2024–25 second-quarter CIP and financial snapshot; no red flags reported
Summary
Finance staff reviewed the city’s second-quarter capital improvements program (CIP) and general and enterprise fund positions as of Dec. 31, 2024, noting timing-driven variances, carryovers and major project spending.
Justin Sorensen, a city finance presenter, reviewed the fiscal year 2024–25 second-quarter CIP and the city’s broader financial position at the March 11 work session.
Sorensen said the CIP appropriation figure shown in the packet was about $24 million for the year to date; that total includes an $8 million transfer from the general fund moved into the CIP in December and still awaiting appropriation to specific projects. He reported more than 100 CIP projects had funding and that spending during the second quarter totaled about $9 million in the CIP…
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