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Board begins process to amend 2024–25 budget; sales-tax revenue noted as lower than forecast
Summary
A first reading of Ordinance 16-58 to amend the city’s fiscal 2024–25 budget passed on first reading; staff told aldermen sales tax receipts were lower than originally budgeted and final close-out figures would appear on later readings.
The Board of Mayor and Aldermen approved the first of three readings for an ordinance amending the city’s fiscal year 2024–25 budget (Ordinance No. 16-58). City staff explained the mid-year amendment process and said the ordinance reflects typical end-of-year adjustments that account for actual receipts and expenses. Staff noted sales-tax collections were down compared with the budgeted estimate; the administrator said final sales-tax figures and depreciation funding decisions would be reflected on subsequent readings once year-end closeout is complete. Aldermen asked whether there were any unexpected adjustments; staff replied the primary change to note at this stage was reduced sales-tax revenue and that the city had budgeted conservatively in anticipation of such variance. The measure passed 6-0 on first reading and will return for additional readings and final adoption after year-end accounting is completed.
