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University Heights schedules May 27 public hearing on FY25 amended budget; city projects $1.5 million cash balance
Summary
Staff presented highlights of the FY25 amended budget and notified the council that a public hearing is scheduled for May 27; the amendment reflects a $150,000 local option sales tax increase, removal of speed-camera revenue, capital-project timing shifts and projects an ending cash balance of about $1.5 million.
The University Heights City Council on May 13 heard staff presentation of the proposed amended fiscal-year 2025 budget and set a public hearing for May 27. Finance staff and the city treasurer circulated the amended budget and a public-notice proof to the Press-Citizen for publication.
Staff summarized key adjustments from the budget certified a year earlier: an estimated $150,000 increase in local option sales-tax receipts; an increase in charges for services of roughly $19,500 (including overtime and University of Iowa game-related lease revenues); removal of a previously budgeted $215,000 in speed-camera revenue; and a decrease in capital projects timing that reduced projected bond proceeds because no bonds were sold this fiscal year.
The amended budget reduces the projected net by about $42,000, staff said, and staff projected an adjusted cash balance of roughly $1.5 million going forward. Culture and recreation (library and related) and community and economic development lines were adjusted for timing differences, including changes to hotel–motel (CVV) payment schedules. Staff also noted an insurance premium increase for a building that raised costs materially relative to the original budget.
The council confirmed the publication schedule for the public hearing notice and accepted the amended budget process; no council amendment to the figures was made during the meeting. The public hearing will be held as advertised on May 27; the amended budget will be considered after the hearing per state notice requirements.
Staff cautioned that projections assume current trends continue through June 30 and that unexpected items could change final figures. The transcript does not show any changes to tax rates or new fees; it records only the amendments and the scheduling of the hearing.
