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Budget & Finance Committee reviews year-end 2024 and January 2025 financials, ARPA and capital fund activity
Summary
The committee heard a detailed financial report from Miss Patel showing year-end general fund revenues, balances in the Pennsylvania Local Government Investment Trust (PLGIT), ARPA cash positions and Q4 capital project spending and encumbrances; no formal votes were taken.
Miss Patel, a finance staff member, presented the Budget & Finance Committee with the city—s year-end financial results for Dec. 31, 2024, and preliminary January 2025 figures, reporting the general (journal) fund closed 2024 with $151,552,000 in revenues and a $157,000,000 budget for the year.
The report said the city ended 2024 with vacancy savings reflected in a net vacancy factor of $2,700,000 and reported major 2024 premium-pay expenditures of about $2,700,000 for police, $3,300,000 for fire and $860,000 for EMS. Miss Patel said the general fund year-end cash position included approximately $36.5 million invested with…
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