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Finance Committee reports $643,475 preliminary 2024 general fund surplus; approves carryforward appropriations to 2025
Summary
Preliminary audit figures show a $643,475 net surplus in the 2024 general fund; the committee approved appropriation transfers and use of undesignated funds to cover carryforwards and commitments, including a $2.2 million commitment for land for Fire Station 1.
Finance staff reported a preliminary net surplus of $643,475 in the 2024 general fund and said the city’s projected undesignated fund balance for 2025 will be 28.06% of the general fund, above the Government Finance Officers Association (GFOA) recommended minimum of 17%.
"Interest revenue was over budget in 2024 due to the market and…
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