Council approves budget supplemental; finance director reports strong preliminary 2024 results

Centennial City Council on April 1 approved a supplemental appropriation to amend the 2025 budget for the street, open space and conservation trust funds and heard a high‑level update on the city’s preliminary 2024 financial statements.

Resolution 2025‑R‑13: Council voted 8‑0 to approve Resolution 2025‑R‑13 after Finance Director Jeff Cadiz outlined line‑by‑line appropriations. The supplemental increases street fund revenues by $2,087,000 (including $1,907,000 in intergovernmental reimbursements and a $180,000 reimbursement from Southgate Metropolitan District for Alton Court streetlights). The street fund expenditure requests total $4,094,700 across seven items, including $70,950 for roadway professional services, $1,900,000 for the street rehabilitation program (to be reimbursed by partners), $350,000 for major structures (bridge rail and guardrail design/installation), and a $3,000,000 first‑year contribution toward the County Line Road widening project. Bike and pedestrian sidewalks appropriations total $954,000 across multiple projects, including the Holly Trail landscaping and Alton Way streetlight installation; the Alton Court portion ($180,000) will be fully reimbursed by Southgate Metropolitan District. Cadiz said most of the requested appropriations are reappropriations of unspent 2024 funds.

Open space and conservation trust funds: Cadiz requested $489,002.50 in open space appropriations (including $200,000 reappropriated for the ongoing splash pad reconstruction and $89,002.50 for Peakview sidewalk work) and $200,000 from the Conservation Trust Fund for the splash pad reconstruction. The council approved the measures; the record shows 8 ayes.

Preliminary 2024 financials: Cadiz presented an unaudited summary of 2024 results. He reported the general fund preliminary revenue of about $92.88 million versus a budget of $81.95 million, a favorable variance of roughly $10.9 million (about 13 percent). Preliminary general fund expenditures were roughly $57.91 million versus a $66.6 million budget, a favorable variance of about $8.7 million. Major drivers of increased revenue included higher investment income (about $5 million vs. a $1 million budget), favorable property tax collections (about $2.7 million over budget), and other miscellaneous reimbursements (including a $1.2 million escrow reimbursement). Cadiz emphasized numbers are unaudited; auditors are scheduled for fieldwork at month end and the comprehensive annual financial report will follow the audit.

Votes at a glance (outcomes recorded in the meeting): - Consent agenda (minutes and appointments; included Resolution 2025‑R‑12 appointing citizens to boards, commissions and committees): approved, 8 ayes. - Resolution 2025‑R‑11 (streetlight LED project): approved, 8 ayes (see separate article). - Resolution 2025‑R‑13 (budget supplemental for street, open space, conservation trust funds): approved, 8 ayes. - Monetary sponsorships: South Suburban Parks & Recreation District — High Line Canal Run, $1,500 — approved, 8 ayes; Trails Park & Recreation District — Summer Celebration, $3,500 — approved, 8 ayes; Trails Park & Recreation District — Sunset on Summer, $7,500 — approved, 8 ayes.

Ending: Cadiz said staff will complete year‑end accruals and adjustments and expects the auditor (Ruben Brown, auditor) to do fieldwork at the end of April; audited financial statements and the annual comprehensive financial report are expected to be brought to council in June or early July.