City staff propose June amendments to FY25 budget; changes reduce use of fund balance

City finance staff briefed the Frostburg City Mayor and City Council on proposed June amendments to the fiscal 2025 budget, saying adjustments to revenue projections and expense reallocations would eliminate a previously planned use of corporate fund balance.

City Finance staff reported an upward revision to Maryland income tax revenue of about $85,000 and an $110,000 increase in projected interest income for the corporate fund; together with other corrections, total corporate fund revenue increased about $453,130. Staff said that after the amendments the corporate fund would no longer require the previously budgeted $173,870 draw…