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West Chester finance committee reviews year-end cash position, approves purchasing requests
Summary
The Finance Committee reviewed year-end cash and departmental budget variances and approved multiple purchasing requests, including a rear-loader funded in part by a DEP grant.
Brian McGinnis, chair of the Finance Committee, opened the Jan. 8 meeting of the West Chester Finance Committee and asked for the director's monthly financial report. Sean Metric, finance director, told the committee the borough ended Dec. 31, 2024, with a cash balance of $24,257,013 across all funds, and that the capital operating reserve holds about $8,700,000.
The report presented department-level results for the year ended Dec. 31, 2024. Metric said the General Fund posted net income, and identified several departments operating at a net loss because their allocated revenues do not fully cover expenses. He said the Police Department overspent its overtime budget by $140,000 and salary expense by $53,000, the latter largely for a payout to a…
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