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City reports $1.5 million general-fund surplus in preliminary 2024 results; TID and impact-fee updates noted
Summary
Finance staff presented preliminary 2024 financials showing a $1.5 million general-fund surplus, mixed results across enterprise and capital funds, changes to room-tax allocations, and updates on impact-fee collections and the water-tower project.
Finance staff presented the city's preliminary 2024 financial results to the Finance Committee, reporting an estimated $1.5 million surplus in the general fund and a mix of surpluses and deficits across other funds.
The preliminary numbers show most departments operating within budget, higher-than-expected investment earnings and ambulance revenue, and several capital and TID items that will require ongoing monitoring. Staff emphasized the figures were preliminary pending final journal entries from auditors.
Why it matters
Preliminary year-end results inform budget planning and capital decisions. The committee flagged items that will affect 2025 budgeting, including debt-service needs related to 2023'24 bond issuances and the timing of major projects that delayed expected permit and impact-fee revenue.
Key figures…
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