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Ozark officials report stronger-than-expected fiscal-year 2024 results; audit pending
Summary
City finance staff presented a summary of fiscal year 2024 results to the Board of Aldermen, reporting an ending combined fund balance of $21.6 million—$6.3 million above projections—and stronger general fund revenues and lower expenses than budgeted. An external audit is underway and final results are expected in July.
City finance staff presented a high-level final report for the fiscal year ending Dec. 31, 2024, showing stronger-than-projected results across city funds.
The presenter reported the fiscal year 2024 combined revenue budget for all funds was $59.4 million, comprised of $37.3 million in estimated revenues and a $22.1 million projected carryover. The adopted expense budget across funds totaled $44.1 million, which had projected an ending fund balance of $15.3 million. Actual results produced a year-end combined fund balance of $21.6 million—an increase of $6.3 million over the projection—primarily because expenses were lower than budgeted.
For the general fund specifically, revenues exceeded the adopted budget by about $1.9 million. Sales tax receipts, the city's largest revenue source, were reported at approximately $6.4 million. The general fund ended the year with an $11.4 million balance, roughly $4.8 million higher than the adopted projection. Overall, the report said most funds held reserves covering six to eight months of activity, consistent with policy.
The presenter noted some line items were budgeted conservatively (e.g., highway contracts and grant-match line items were budgeted at full contract value), which can make year-to-year comparisons appear larger when projects cross fiscal years. The city has no additional ARPA funds expected beyond $700,000 allocated for 2025. An external auditing firm has begun the fiscal-year-2024 audit; final audited results are expected in July, the presenter said.
