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Finance committee approves quarterly budget report and authorizes transfers for FY25
Summary
The committee approved the quarterly budget actual report through March 31, 2025, and a resolution transferring reserves and amending budgets for major funds that exceeded expenditures, a routine audit-related action.
O'Fallon — The Finance Committee approved the quarterly budget actual report through March 31, 2025, and passed a resolution authorizing transfers from reserves and budget amendments for major funds with expenditures exceeding budgeted amounts for fiscal year 2025.
Sandy presented the quarterly report and explained that variances can result from timing of journal entries and project start/stop dates; she said revenues often cover the overages but the…
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