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Finance committee approves amended budget adjustments and final fourth-quarter financial report
Summary
The committee approved amendments to resolution 25XX and adopted the final fourth-quarter financial report for fiscal year ending June 30, 2025; discussion revealed previously excluded restricted funds and produced a higher-than-expected cash balance.
Members of the Roswell Finance Committee approved an amended resolution to adjust fiscal-year budgets and then voted to accept the final fourth-quarter financial report for the fiscal year ending June 30, 2025.
Staff presented a packet of year-end budget adjustments and explained that some restricted funds had not been included in earlier beginning-cash calculations. City staff said the omission affected the reported beginning cash balance in the earlier budget documents; when restricted funds were included, the city’s beginning cash balance increased materially. Staff described the adjustment as consistent with DFA (Department of Finance and Administration) rules that require inclusion of all cash balances, restricted or not.
The committee first moved to amend the dollar amounts in resolution 25XX; the motion to amend and the subsequent motion to approve the amended resolution were passed (motions recorded in committee minutes). The committee then considered and approved a resolution accepting the final fourth-quarter financial report for the fiscal year ending 06/30/2025. Committee members requested clearer monthly or quarterly reporting that separates obligated purchase orders, restricted funds, and available cash balances.
During the same session the committee discussed the city’s new budget software roll-out, the need to publish budget data online for public transparency, and the intent to provide monthly DFA-style reports going forward. Staff said they are migrating account structures and expect online budget visibility (ClearGov) to be available to the council and public during the coming budget cycle.
The committee approved the amended resolution and the final fourth-quarter report; recorded votes were taken on both motions (amended resolution recorded as passed 3–0; final-quarter report recorded as passed 3–0).
