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Finance director: 2025 budget structurally balanced; rainy‑day fund nearing statutory cap
Summary
Finance Director Mike Gentile told the City Council finance committee the city's 2025 budget is structurally balanced, with $2.12 billion in total resources, about 3% growth in general fund revenues and a rainy‑day reserve approaching the legal limit. He cited continued uncertainty from federal policy and population trends.
Mike Gentile, finance director for the City of Cleveland, told the City Council Committee on Finance, Diversity, Equity and Inclusion that the 2025 budget is the city's third consecutive structurally balanced plan.
"This year's budget totals $2,120,000,000 with $805,700,000 of that towards expenditures in the general fund and $806.7 million in revenues," Gentile said, framing revenues and expenditures as roughly matched. He said overall…
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