Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Victoria council approves 2024 year‑end fund balance assignments and transfers, commits $808,406 to revenue stabilization
Summary
Finance director Nicole Pollock told the council the city must assign fund balances and authorize transfers to balance the 2024 budget; council approved three resolutions including a $1,066,677 transfer to the Long Term Street Maintenance Fund and a temporary interfund loan to TIF 1‑9.
The City of Victoria council approved three resolutions to finalize 2024 year‑end fund balance assignments and transfers and to create a revenue stabilization commitment after Finance Director/Assistant City Manager Nicole Pollock reviewed carryovers, risk‑management reserves and upcoming cash‑flow needs.
"Cities are required by law to have a balanced budget," Pollock told the council, explaining why the city must assign fund balances and authorize transfers after the fiscal year closes. She…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
