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Woodland reports $3.2 million reserves increase for 2024; bonds and audit highlighted
Summary
Mayor Todd Dinehart reviewed the 2024 financial closeout, reporting reserves rose by about $3.2 million, described revenue variances tied to use taxes and explained the city's bond investments and an upcoming state-mandated audit.
WOODLAND, Wash. — At its May 20 meeting, the Woodland City Council received an in-depth financial report covering fiscal year 2024 that showed higher-than-expected reserves and detailed the city's recent bond purchases and audit schedule.
Mayor Todd Dinehart told the council the city's reserves increased by "over $3,000,000" in 2024 and later referred to a $3.2 million increase to a $17.9 million reserve balance. He said the year-end review shows a mix of favorable and unfavorable variances: overall revenues were "just about a million dollars favorable to budget," driven largely by higher use taxes, while some…
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