Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City finance director says Syracuse will close FY25 with a smaller deficit than budgeted
Summary
Staff reported preliminary FY25 numbers showing a $350,000 projected deficit versus a budgeted $1 million-plus deficit; council heard a proposed FY26 budget amendment mostly reflecting capital project carryovers and other adjustments.
Syracuse finance staff reported that preliminary numbers for the fiscal year ending June 30, 2025, show a smaller-than-expected deficit and outlined a proposed amendment to the FY2026 budget that largely reflects capital carryovers.
Steve (finance director) told the council the administration expects to close fiscal 2025 with a roughly $350,000 deficit, down from a budgeted deficit just over $1 million. He said the change reduced the projected draw on the city’s general-fund balance from the prior estimate by roughly $744,000.
Steve said the city's general-fund reserve—its rainy-day fund—stood at about 37.2% at June 30, 2024 (just over $10 million) and that the projected fund balance after FY25 will be about 30.7 percent.…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
