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Finance director outlines FY2024 year-end results and FY2025 outlook; general fund shows modest deficit trend
Summary
City staff reported FY2024 revenues of roughly $40 million across all funds with a small general fund deficit; FY2025 to-date revenue is ahead but property tax assessed value growth fell short of budget assumptions.
The Lebanon City Council received a fiscal report on Jan. 8 covering fiscal year 2024 results and an early outlook for fiscal year 2025.
Brandon (Finance Director) told the council fiscal year 2024 (ended June 30, 2024) produced about $40 million in revenue across all funds and just over $37 million in expenditures across funds; the city’s three utility funds (water, sewer, storm drainage) added a combined approximately $2.2…
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