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Hot Springs reports unaudited 2024 year-end surpluses in several funds; street fund posts deficit after increased paving
Summary
Finance Director Karen Scott told the Hot Springs City Board of Directors the city closed 2024 with several funds in surplus but the street fund ran a deficit after a one-time increase in paving spending; figures were presented as unaudited.
Finance Director Karen Scott told the Hot Springs City Board of Directors on March 18 that the city’s fiscal-year 2024 financial statements are unaudited but show several funds finishing the year with revenues exceeding expenditures.
Scott said the general fund finished 2024 with revenues over expenditures of $5,130,000 and that after an amended budget projecting a $2,200,000 loss the year produced a positive swing of $7,400,000. She reported the general fund’s year-end unrestricted fund balance at $26,397,000 and a restricted balance of $10,588,000. All figures were…
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