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Lacey presents preliminary 2024 year‑end financial report; council warned of sales‑tax declines and future costs
Summary
City staff presented a preliminary year‑end financial report showing a $15.8 million increase in general‑fund expenditures driven by transfers for a police station and higher labor costs. Officials flagged a ten‑month decline in sales tax, timing issues with property tax collections and upcoming operating costs tied to new facilities.
City of Lacey finance staff presented a preliminary 2024 year‑end financial report at the council work session on April 8, reporting higher expenditures in the general fund tied to transfers for the police station and rising labor costs while flagging sales‑tax weakness and timing issues in property‑tax collections.
Finance staff said the general fund—s expenditures increased by about $15.8 million in 2024 compared with 2023, driven primarily by transfers for the new police station and higher salary and benefit costs. The presentation described transfers increasing roughly $11.7 million and a total salary and benefit increase of about $4.1 million.
Troy (identified in the meeting as finance staff) told the council that police department costs rose about $1.3 million in 2024, primarily from salary and benefits and overtime; the city budgeted roughly $650,000 for overtime but incurred about $1.0 million. He said some program costs shifted…
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