Finance committee reviews $5.5M in year‑end transfers and seeks revised Dec. 31 financials

Cleveland Heights finance staff presented updated year‑end fund summaries and a list of end‑of‑year transfers at the Finance Committee meeting on March 3, and committee members requested a revised Dec. 31, 2024 financial statement showing the transfers and final unencumbered balances.

Mayor Sarah summarized the administration’s fund projections for 2025 and explained that the documents provided to council intentionally excluded American Rescue Plan Act (ARPA) dollars from the 2025 budget presentation. “We're expecting a little bit of a surplus in the general fund, which will take our current ending balance for 2024 from 27,300,000.0 up to that 28,500,000.0 that we're rounding,” Mayor Sarah said during the meeting as she walked members through the fund summary. She also said that the administration had prepared a final list of transfers made at year end and would provide the formatted list to all council…