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Waterford council adopts midyear budget adjustments, highlights community center delay and fund balances
Summary
City council approved Resolution 2025-06 to adopt midyear adjustments to the 2024–25 budget, citing a delay in the community center project that shifted capital spending and left the city with a projected 68% general fund reserve. The vote passed 5-0.
Waterford City Council voted unanimously to adopt Resolution 2025-06, approving midyear budget adjustments for fiscal year 2024–25 that reflect a delayed community center remodel and other revenue and expenditure changes.
The midyear package, presented by staff during the council meeting, showed an updated general fund projected ending balance of about $3.52 million, roughly a 68% reserve — above the city policy minimum of 50% but below earlier projections. Council approved the resolution by voice vote: 5–0.
City staff told the council the principal driver of the midyear change was a carryover of community center capital spending that had been budgeted in the prior year but did not occur, producing a net decrease of $769,000 from prior projections. The presentation said the total cost for the community center remodel is expected to be just over $1.7 million when completed; staff added $592,000 to the capital budget at midyear to reflect continued work.
Staff also reported a net…
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