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Clayton adopts FY2024 fourth-quarter budget amendment; investment mark‑to‑market and use‑tax receipts drive variances
Summary
The board adopted an annual, reconciliatory fourth‑quarter budget amendment that reflected higher-than-budgeted investment values and variable sales/use tax receipts; staff said many capital purchases were deferred into FY2025 and salary savings came from vacancies.
The Board of Aldermen on Feb. 25 adopted the city’s FY2024 fourth-quarter budget amendment (Ordinance 7061), a year-end reconciliation of revenues and expenditures as of Sept. 30, 2024.
City staff and Finance Director Karen Dilber explained the amendment covers a reconciliation of actual revenues and expenses against the adopted FY2024 budget and is used for audit purposes. The largest positive variance in FY2024 resulted from investment…
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