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City staff reports midyear FY24–25 budget shows improved general fund balances; water fund running a cash deficit
Summary
Staff presented a midyear review showing the general fund had a projected surplus and increased fund balance while the water fund showed a cash-basis deficit; council was briefed on revenue and expense variances and one budget adjustment was noted.
City finance staff presented the FY24–25 midyear budget review, reporting a stronger-than-expected general fund position and mixed results across enterprise funds.
Carrie (city finance staff) told council the general fund now shows a projected surplus through January 2025 and an unassigned balance of roughly $13 million; when combined with committed balances, staff reported nearly $14 million on hand. Revenue…
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