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City finance staff: FY25 general fund closed $5.8M worse than expected; Norman Forward cash flow remains a concern
Summary
City of Norman staff reported an $11.8 million general fund balance at the end of FY25, noting a roughly $5.8 million loss and revenue shortfalls — including about $1.8 million in sales tax — while the Norman Forward fund faces near-term debt-service pressures.
City of Norman finance staff told the City Council on Oct. 25 that the general fund closed fiscal year 2025 with an $11.8 million balance after what staff described as about a $5.8 million loss, slightly larger than the $5.6 million loss the council had estimated.
Jim, a city finance staff member, said the gap between estimated and actual revenue was driven primarily by sales tax and a drop in miscellaneous “other” revenues, and that “we're about a million 8 short of where we estimated we would be” for sales tax. He said the “other revenue” shortfall largely reflects lower court-related convenience and technology fees after the city stopped passing a merchant charge to customers.
The shortfall in revenues came alongside higher personnel costs, staff said. Jim told the council the city has a mandated 4%…
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