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Finance director: revenues uneven, storm costs and litigation tighten budget picture
Summary
Finance Director Alan Nizman briefed council on the city’s fiscal condition as of Jan. 31, 2025: general fund revenues were below the typical midpoint because property‑tax and franchise payments are seasonal; storm and bond payments affected expenditure timing; stormwater fees may need review to cover bond debt.
Alan Nizman, the city’s finance director, told the council the city’s fiscal year‑to‑date revenues and expenditures reflect seasonal timing for property taxes, business licenses and franchise payments and remain below an even‑year baseline. ‘‘Revenues are not collected evenly over a fiscal year,’’ Nizman said, noting property taxes concentrate in December through February and franchise fees and business licenses fall later in the fiscal year. Nizman reported the general fund was at about 47% of budget as of Jan. 31, 2025, and cited year‑to‑date variances:…
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