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La Center finance director reports $720,000 general-fund surplus, explains city fund structure
Summary
City accountant Riley Barbera presented the 2024 financial report on March 26, reporting an approximately $720,000 surplus versus a projected $55,000 deficit and outlining the city’s major funds, reserves and constraints on impact and REET funds.
City accountant Riley Barbera told the La Center City Council on March 26 that the city concluded 2024 with an unexpectedly large general-fund surplus and reviewed the structure and restrictions of the city’s main funds.
Barbera said the city had budgeted a $55,000 general-fund deficit for 2024 but ended the year with a roughly $720,000 surplus, leaving an ending general-fund balance around $4.3 million. “So all in all, we had budgeted for a $55,000 deficit, and we actually had a $720,000 surplus,” Barbera said.
Why it matters: The presentation explained where city revenue comes from and the legal or policy limits on how…
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