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Finance director reports 2024 closeout details; council hears options for cemetery maintenance and garbage fund credit
Summary
Finance Director Amy Hendricks briefed the council on 2024 fiscal closeout items, fund balances, projected property-tax gains for 2025, a credit to residential garbage accounts, and an ongoing shortfall in cemetery operating revenues that the city has been supplementing from the general fund.
Finance Director Amy Hendricks reported to Vermilion City Council on remaining 2024 closeout tasks, current fund balances, and projections for 2025. The presentation covered capital-asset updates, reimbursements from state-funded projects and fund-specific carryover balances that will shape next year’s spending priorities.
Hendricks told council that closeout entries were still being posted and that reimbursements related to state-funded street projects increased revenues and expenses in fund 200 by about $700,000 — roughly three times the usual annual reimbursement level. She said the city’s general fund began the year at about $6.2 million and the finance team expects an ending balance…
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