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City of Fulton council accepts December DOA report; financials show modest revenue gains
Summary
Council accepted the December DOA report and approved the December financial statement after a presentation by Dustin Doherty, CFO, who said sales tax collections were up 2.2% and use tax up 14.2% year-over-year.
At the council meeting the City of Fulton accepted the December DOA report and approved the December financial statement following a presentation by Dustin Doherty, the city’s chief financial officer.
Dustin Doherty, CFO, told the council that as of 12/31/2024 the city had recorded 11 months of sales tax with collections up 2.2% from last year and use tax up 14.2%, which he said reflected economic growth. He said revenues and expenditures were tracking as expected and that planned transfers laid out in budget amendment number 2 were being used to address deficit fund balances in several funds. Doherty noted some fund variances, including lower revenues in the gas fund tied to timing of an I-74 project and higher expenditures in solid waste.
A council member moved to accept the December DOA report and the motion carried by voice vote. After the financial presentation a motion to approve the financial report was made and carried by voice vote; no roll-call tally was recorded in the transcript for those items.
The actions were presented as routine acceptance of reports; no additional direction or amendments to the budget were recorded at the meeting.
