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City treasurer reports: general fund down about $600,000 year-over-year; pension withdrawals, transfers noted
Summary
Treasurer presented revised May 2025 financial reports showing the general fund balance is roughly $600,000 below last year (partly due to a roughly $254,000 demolition); the fire and police pension funds required withdrawals from consolidated investments ($539,000 and $956,100 respectively) and received transfers from the general fund.
The city treasurer presented revised financial reports for May 2025 and annual reports for the fire and police pension funds, telling the Lincoln City Council the general fund is about $600,000 lower than a year ago and explaining several one-time and recurring factors.
"It's down about 600,000 almost from where we were a year ago," Treasurer Conso said, adding that a large expense for demolition of a building on Sangamon Street — "somewhere around there, $2.54, I think" — accounted for a sizable portion of the change. The treasurer said the report reflects checks dated April 30 or earlier and that amounts were revised to reflect issued checks.
On pension funds, the treasurer reported that the city has consolidated some investments into state-managed pooled funds and has made withdrawals to cover pension payments during the fiscal year. For the fire pension fund, the net withdrawal from consolidated investments in the past year was about $539,000; the treasurer noted a transfer from the general fund of $195,000. For the police pension fund, the net withdrawal from the consolidated investment fund was about $956,100. The treasurer also cited payroll-deduction contributions: roughly $152,000 for firefighters and about $209,000 for police officers, and noted that the state sets limits on the payroll-deduction percentages.
The treasurer said detailed ledgers and the revised totals were distributed to council members and offered to answer follow-up questions. Council members asked clarifying questions but did not take additional formal action on the reports at the meeting.
Ending: The treasurer provided revised monthly and annual reports, highlighted the demolition expense and pension withdrawals, and offered to provide updated figures and corrected an identified minor error on the police pension consolidation numbers.
