Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City presents 2024 general-fund summary showing small surplus and increased reserves
Summary
City finance staff reported a roughly $61,000 surplus on the general fund for 2024, a transfer of about $15 million to an unassigned reserve last year and projected ending fund balance near $24.1 million (about 19% of the 2025 budget). Sales-tax growth and higher interest income helped offset unbudgeted expenditures, staff said.
City finance staff presented a 2024 general-fund summary to the governing body on March 18, reporting a small surplus and an above-policy fund balance at year-end.
Division Director Josh McInarney told the council the general fund collected about $115 million in 2024. Sales-tax receipts were down versus budget early in the year but rebounded in the second half, producing a 2.26% increase over 2023 actuals. Franchise fees and higher short-term investment income also…
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
