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Finance staff reports year-end fund balances, investment allocations; ERP financial module to go live March 18
Summary
At a Budget and Finance Committee meeting, finance staff summarized December 2024 year-end and January 2025 financial reports, including general fund and ARPA cash positions and investment allocations, premium-pay totals, capital project encumbrances, and announced a planned March 18 go-live for the financial module of the new ERP system.
Miss Patel, finance staff for the Budget and Finance Committee, reported December 2024 year-end and January 2025 monthly financial results and outlined an upcoming enterprise resource planning (ERP) transition during the committee meeting.
The report said the journal (general) fund closed the year with approximately $151,552,000 in revenues and that major contributors to the year were about $145,619,000, against a budgeted $157,000,000. Miss Patel said the budget includes a $2,700,000 vacancy factor. She reported year-end premium pay expenditures of about $2,700,000 for police, $3,300,000 for fire, and $860,000 for EMS.
Why it matters: the committee heard figures the finance staff described as reflecting overall strength in revenues and some cross‑fund savings, information committee members said they use to monitor cash for vendor payments, capital spending and reserve levels.
Miss Patel described the city’s…
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