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Warrensburg presents FY2024 annual financial report summary showing stronger net position
Summary
City finance staff presented a condensed version of the FY2024 Annual Comprehensive Financial Report, highlighting $85.2 million in net position, roughly $10.7 million in unrestricted funds, and about $30 million in long-term obligations; council asked for comparisons with similar cities.
Warrensburg city staff presented a reader-friendly summary of the city’s FY2024 Annual Comprehensive Financial Report and supplemental materials to the council during its regular meeting.
The presentation, delivered by a staff member identified as Jessica, outlined how the city reports governmental and business-type activities, showed that sales tax is the largest single revenue source, and listed major expense categories with public safety noted as the largest expense. Jessica told the council the city’s net position at the end of FY2024 was $85,200,000, unrestricted fund balances were about $10,700,000, and long-term obligations (debt) totaled a little more than $30,000,000.
The condensed “audit in brief” was created to make the full ACFR more accessible to residents who do not have accounting backgrounds. Jessica said the condensed report will be posted to the city website alongside the full ACFR.
Councilmembers asked for comparative information showing how Warrensburg’s revenue mix — heavy reliance on sales tax, user fees and franchise fees — compares with similar-sized Missouri cities. Jessica said Missouri communities typically rely more on sales tax because state law limits local property tax authority, and she offered to prepare a deeper comparative analysis.
The presentation also highlighted the composition of net position (net investment in capital assets, restricted balances and unrestricted balances) and listed outstanding debt instruments by type (general obligation bonds, certificates of participation and revenue bonds for enterprise activities).
The brief is intended as a transparency and accountability tool; the city manager and staff said they will post it and notify the public when it is available online.
Less urgent details: the condensed report covers four fund categories (governmental, proprietary, fiduciary and component units) and notes the WCBB as the city’s reported component unit.
