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Madison council approves intra-fund transfers to clear 2024 negative balances; treasurer outlines reconciliation work
Summary
Council approved Resolution 2025-6C to transfer appropriations between funds to clear negative balances carried from 2024; city treasurer said further reconciliations and federal highway grant receipts remain pending.
The City of Madison Common Council on April 22 approved Resolution 2025-6C to transfer appropriations and revenue between funds to correct negative balances remaining from the 2024 financial close.
City finance staff explained that reconciliations for several funds were delayed at year-end, producing negative line items that must be cleared by council-authorized transfers. The transfers include moving money from city parks accounts into the…
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