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Council approves FY 2024 budget amendments including $1.5 million from fund balance for paving projects
Summary
The council approved several fiscal-year 2024 budget amendments that increase general-fund revenue by about $2 million and increase expenses by about $3.5 million, including a $1.5 million draw from fund balance primarily to support street paving projects.
The Newnan City Council adopted several fiscal-year 2024 budget amendments March 25 as part of the audit process.
The city finance director told the council the majority of amendments are in the general fund: revenue was increased by slightly more than $2,000,000 and expenses were increased by about $3,500,000, with roughly $1,500,000 drawn from the fund balance to cover street-paving allocations. The finance director said other amendments affect special revenue funds and recommended approval.
Council moved and seconded the ordinance to approve the amendments and adopted it by voice vote. Staff did not provide a line-by-line breakdown of all amendments during discussion, but said the larger expense increases were primarily related to paving and other one-time allocations noted in the audit attachments.
