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Council accepts Q2 operating report; approves supplemental budget adjustments and facility funding guiding principles
Summary
City staff reported the second-quarter fiscal update showing revenues timing and vacancies; council approved several supplemental budget and appropriation transfers and adopted facility-investment guiding principles as amended.
At its Feb. 3 meeting the Corvallis City Council accepted the second-quarter operating report for fiscal year 2024–25 and approved several budget adjustments and resolutions, including two supplemental budgets and a transfer from the risk management fund for insurance premiums.
Key financial highlights Staff reported the general fund revenues at 66.2% of the fiscal year to date (largely because property tax receipts post in Q2) and expenditures at roughly 42.2% expended, a…
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