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Bristol finance team reports mid‑year surplus and flags future debt service pressure
Summary
City finance staff reported a $5.8 million general fund surplus at Dec. 31 driven mainly by rolling beginning balances, discussed changes from moving solid waste into the general fund, and said the city has submitted large landfill reimbursement requests to the state but had not yet received funds.
City finance staff presented the general fund financial report for the six months ended Dec. 31, 2024, to the Bristol Virginia City Council on Feb. 25, noting a $5.8 million fund‑balance surplus but warning of upcoming debt‑service pressures.
Tamara (finance staff) said the report is cash‑basis and unaudited. The general fund budget was $91,154,000 with revenues of $46,323,000 (51% of budget) and expenditures of $40,428,000 (44% of budget) through Dec. 31, leaving an unaudited surplus of $5,800,000. Tamara said $5,860,000 of the surplus reflected beginning‑balance funds carried from the prior fiscal year.
Revenue composition through Dec. 31: local…
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