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Finance committee: August report shows transfers to capital, health insurance fund shortfall
Summary
Finance staff reported August revenue and expenditures, noting a $1 million transfer to the general fund, a $6 million earlier transfer to the capital projects fund and a year‑to‑date health insurance fund shortfall.
Jeremy Flaker, the city's finance director, presented the August 2025 finance report to the Finance and Personnel Committee on Sept. 22. Flaker reported that the health insurance fund had revenues just over $433,000 for August and expenditures of about $4,477,000 year to date, leaving a net year‑to‑date deficit reported in the meeting record.
Flaker said income‑tax actuals for August came in higher than estimates, and staff transferred $1,000,000 to the general fund that month. He reminded council that an earlier budget action included a $6,000,000 transfer from the general fund to the capital projects fund for the Justice Center/City Hall project; that transfer accounts for a substantial portion of the year‑over‑year decline in the general fund balance.
Committee members heard that several federal grant funds (FEMA, CDBG and others) may show negative cash balances temporarily because the city spends and then requests reimbursement. The report also compared three months of recent activity, noting modest month‑to‑month changes in general, special-revenue and enterprise funds. The committee moved to call the report out for the legislative agenda without further questions.
