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Controller presents 2024 fiscal snapshot: modest general‑fund deficit, fund balance near 25% target; water plant needs flagged
Summary
City Controller Angela Gray and City Manager Fonda gave a 50,000‑foot review of 2024 finances: a $248,000 general‑fund deficit, water and sewer fund positions, discretionary fund balance of about $3.7 million, and a preliminary $27 million estimate to upgrade the water treatment plant.
City Controller Angela Gray and City Manager Fonda presented a year‑end summary of the city’s 2024 finances, telling council that the general fund posted a modest operating deficit while the city’s discretionary fund balance remains near a common benchmark used by finance officers.
Gray said the general fund ended 2024 with a $248,000 deficit versus a surplus the prior year; the water fund posted a $179,000 surplus and the sewer fund a $276,000 deficit. She said sales tax and state aid produced positive revenue variances (sales tax exceeded budget by about $260,000 and the city received roughly $198,000 more in AIM state aid). The controller also reported a notable increase in investment earnings.
On fund balance, staff reported an all‑in fund balance…
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