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City reports about $1 million general‑fund surplus for 2024; enterprise funds mostly positive, fiber fund shows large deficit
Summary
Finance Director Dan Mike reported an unaudited roughly $1 million surplus in the general fund for 2024 driven by higher revenues (grants, police aid, investment income) and departmental savings; enterprise funds performed better than budget in several areas, while the city’s fiber‑optic fund carries a multi‑million dollar deficit.
Finance Director Dan Mike told the council the city finished 2024 with an unaudited general fund surplus of about $1 million and he explained the primary drivers behind that result.
Mike attributed approximately $330,000 of the surplus to higher‑than‑budgeted revenues — including additional grants and an estimated $161,000 in police aid plus roughly $170,000 in market‑value/investment income — and about $580,000 to departmental expenditure savings (administration, finance, police, street maintenance and parks), which together make up the roughly $910,000 Mike highlighted toward the $1 million surplus.
He cautioned the numbers are unaudited and that several year‑end adjusting journal entries…
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