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Finance director reports $4.71 million general-fund surplus, outlines $14 million pool renovation funding plan
Summary
Finance Director Raguse told council that the city closed 2024 with a $4,710,000 general-fund surplus and outlined a funding plan for a $14 million Phase 1 pool renovation, including drawing on surplus, reserves and an anticipated debt issuance to cover the remaining gap.
Finance Director Raguse reported to the Brooklyn City Council on Jan. 27, 2025, that the city finished the 2024 fiscal year with a general-fund surplus of $4,710,000 and presented a funding plan for Phase 1 of a planned pool renovation.
Raguse told council that overall 2024 revenues were 108% of the estimate, driven by higher income-tax receipts and charges for services; excluding nonrecurring revenue, overall revenues were approximately 102% of estimates. On commitments, spending was 96% of the amended budget and roughly 99.5% of the initial budget when excluding a…
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