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Finance committee recommends carryover of $1.7 million in encumbrances, approves interim financials
Summary
Franklin City Finance Committee reviewed October–November interim financial statements, heard updates on cash, investments, and audit reconciliation work, and recommended carrying roughly $1.7 million in encumbrances into 2025; committee also approved interim statements and minutes by voice vote.
The Franklin City Finance Committee on an administrative voice vote recommended that the Common Council carry forward about $1.7 million in purchase order encumbrances into 2025 and approved interim financial statements for October and November 2024.
Committee treasurer/staff member Danielle presented the interim statements, saying the city has $52,900,000 in governmental funds, down from $54,000,000 in October, and a general fund balance of about $30,600,000—“about $875,000 higher than the budget,” she said. Danielle told the committee that most state aid and property tax payments were complete and that ambulance billing was at 101% collection year to date. She noted investment income was about $205,000…
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