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Finance staff gives preliminary FY25 year‑end budget update; general fund reserves projected near 25%
Summary
City finance staff told the Clearfield City Council the fiscal‑year‑to‑date numbers are preliminary, projecting general fund reserves near 25% of revenues and noting slower sales‑tax growth, a drop in energy‑use tax and lower building permit activity.
City finance staff provided a preliminary budget‑to‑actual update for fiscal year 2025 and told the Clearfield City Council final numbers will be set at the annual audit in December.
“It's not done yet. I've just cut a check for FY fiscal 25 yesterday,” the presenter said, warning that interest and some revenue items had not been fully booked. The presenter said the numbers shown to the council were still preliminary and likely to change before the audit.
On the general fund, the presenter reported the city budgeted to spend down about $1.6 million but currently shows a positive variance of about $2.0 million relative to budgeted figures after removing transfers for reporting simplicity. The…
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