Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council receives 2024 year-end financial report and approves post-closing accounting adjustments
Summary
City finance director Mark Manning reported stronger-than-expected 2024 general fund performance and recommended year-end adjustments that the council approved 7-0; adjustments accelerate certain one-time investments and shift $4.3 million from the stabilization reserve for capital and maintenance priorities.
The Wichita City Council on Tuesday received the city’s fourth-quarter unaudited financial report for the period ended Dec. 31, 2024, and approved a set of post-closing adjustments intended to accelerate one-time investments and shore up some restricted funds.
Mark Manning, director of the Department of Finance, told the council the general fund ended 2024 in better-than-expected shape and that the city will transfer about $11 million into a stabilization reserve — higher than budgeted. Manning said, “The general fund had a good year last year,” and highlighted stronger property-tax receipts, higher interest earnings (about $8 million more than 2023) and lower-than-expected franchise fee declines.
Why it matters: Manning said the city still faces…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
