Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Comptroller presents 2024 financial review; general fund close to budgeted deficit, sewer fund ends with surplus
Summary
City Comptroller Adam Blowers reviewed the unaudited 2024 year-end financials: the general fund finished better than the budgeted $438,000 draw from fund balance, and the sewer fund produced a surplus that will add to fund balance. Staff warned revenues such as sales and occupancy taxes are volatile and grants create timing differences.
City Comptroller Adam Blowers presented the 2024 financial report and walked council through revenue and expense lines for the general, water and sewer funds.
Key points from the presentation: the general fund had budgeted a $438,000 draw from fund balance but closed the year with a smaller-than-expected net deficit of roughly $38,000—meaning the city did better than projected; figures are unaudited and will be finalized by the independent auditors. Comptroller Blowers pointed to timing issues and grant reimbursement timing as drivers of apparent swings in economic development expenses.
Sales and occupancy taxes performed better than conservative budget assumptions for 2023 and 2024, though Blowers cautioned council the city receives sales-tax distributions quarterly and staff will not see full first-quarter numbers until April. He said the city’s approach is intentionally conservative because sales tax receipts are volatile.
In enterprise funds: the water fund finished roughly close to budget but showed reductions in some non-recurring “other revenues” from meter replacements and construction-related activity; debt service for water was on target. The sewer fund finished the year with about a $129,000 surplus, reducing the planned draw from fund balance.
Comptroller Blowers and councilors discussed the debt-service presentation and how water and sewer debt is separated in reporting, noting that combining those figures would raise the city’s total debt-service number. Blowers reviewed overtime, retiree and healthcare costs and noted the municipal budgeting process needs to consider timing differences between state fiscal years and city fiscal cycles.
Councilors asked about sales-tax projections for 2025 and Blowers said staff and the city manager will continue to monitor trends and would present budget amendments if first-quarter receipts depart materially from projections.
Comptroller Blowers closed by reminding council these are unaudited numbers pending the external audit and offered to meet individually with council members who have follow-up questions.
