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Mobile finance director: reserves up, revenues near budgeted targets; police and fire pension liability expected to be funded in fiscal 2026
Summary
At the July 29 council meeting the city's finance presentation showed a stable general fund, a $58 million reserve, and a draft budgeted contribution to police and fire pension expected to eliminate the unfunded liability in fiscal 2026.
At the Mobile City Council meeting on Tuesday, July 29, city finance staff reported that the general fund ended the month with a higher balance than at the start of the fiscal year and that revenue performance was close to budget projections. Staff also told council members the city expects to finish fiscal 2026 having fully funded the police and fire pension unfunded liability.
Finance staff (identified in meeting as Scott) presented month-end figures for the period ending June 30. The city's reserve fund balance was reported at roughly $58,000,000. The general fund operating balance on July 1 was $113,160,009.77, and the month ended with a $117,944,182 balance. Year-to-date comparisons showed total revenues slightly above budget: a…
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