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Council accepts 2024 year-end fund balance and approves interfund transfers for streets and debt
Summary
Finance Director Michelle Brent reported year-end revenues exceeded expenses by about $70,000; council accepted the 12/31/2024 fund balance and authorized transfers totaling $664,400 to street and debt funds.
The Brookville City Council on Jan. 7 accepted the city's fund balance report for the year ending Dec. 31, 2024, and authorized interfund transfers recommended by the finance director.
Finance Director Michelle Brent told council that “for December month to 8 revenues exceeded expenses by a little over $70,000.” She asked council to accept the fund-balance report and to authorize transfers from the General Fund: $200,000 to the Street Fund, $90,000 to the Note Retirement Fund and $374,400 to the Bond Retirement Fund. Brent said the transfers are intended to fund street projects and cover required debt payments.
The nut graf: Council voted to accept the year-end fund balance and approved the three transfers in a single motion.
Council members moved and seconded the transfer authorization; the motion passed by voice vote. City staff said the transfers are routine year-end actions that allocate General Fund resources to capital and debt accounts and did not indicate any change to tax rates or new debt issuance.
Finance staff noted they will continue to monitor revenues and expenses and report back to council as necessary.
