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Bothell finance director reports $25M-plus year-end fund balance; flags inflation and grant risks
Summary
Finance Director Quan Wong told the Bothell City Council the 2023–24 biennium closed with roughly $383.5 million in revenues, $359.8 million in expenditures and a one-time fund balance of just over $25 million, while cautioning about COLA, inflation and state/federal grant uncertainty.
Bothell’s finance director told the City Council Tuesday that the city closed the 2023–24 biennium with roughly $383,500,000 in revenues, $359,800,000 in expenditures and an ending fund balance of just over $25,000,000, much of it one-time money.
“We received $383,500,000 in revenues,” Quan Wong said while briefing council members on the closeout. He told the council that about $16,000,000 of the fund balance is in the general fund…
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