Citizen Portal
Sign In

Get Full Government Meeting Transcripts, Videos, & Alerts Forever!

Get email alerts on the Finance topic

No spam. Unsubscribe anytime.

Board adopts FY2025 budget amendment; finance report shows sales-tax recovery

5749880 · August 29, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

Aldermen adopted an amendment to the fiscal year 2025 budget and heard that combined sales‑tax receipts are trending upward compared with a recent dip, while the city’s cash investments total about $28.7 million as of June 30.

The Fenton Board of Aldermen adopted an amendment to the fiscal year 2025 budget (bill 25‑59), approving it as ordinance 45‑80 after a roll‑call vote on Aug. 28. Finance committee chair Alderman Wissbrock presented monthly finance data prepared by Timmy Allsup, CPA. The board heard that combined sales tax generation for the reporting period totaled $892,351, of which 50% ($446,037) was redistributed; the finance memo noted pooled and redistributed amounts for the city’s sales‑tax receipts and a total cash‑investment balance of $28,697,968 as of June 30. Why it matters: the budget amendment enacts spending or reallocation changes for FY2025 and the sales‑tax figures are an operational revenue indicator. The board adopted the ordinance by roll call; one member recorded a Nay on the vote to adopt the fiscal‑year amendment but the motion carried. Next steps: Finance staff will implement approved budget adjustments and continue monthly reporting to the finance committee; the ordinance and detailed line‑item changes are recorded in the city’s budget documents.