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Monroe City reports $39.6 million general fund cash balance; unassigned balance about $861,000
Summary
Finance staff presented a preliminary fund balance report for fiscal year ending June 30, 2025: total general fund cash of $39.6 million, categories by GAAP, and key restricted/assigned and unassigned balances; no council action required.
City finance staff presented the city’s preliminary general fund cash balance as of June 30, 2025, reporting a total cash balance of $39,600,000. Lisa Strickland (identified in the meeting as the presenting staff member) walked council through the standard governmental accounting categories: nonspendable, restricted, assigned and unassigned.
Strickland said the nonspendable portion includes inventory and prepaid items, and that the bulk of prepaid expense relates to prepayments for fire trucks under a manufacturer prepayment program. Restricted balances include amounts held pursuant to state statute (commonly described as the state-required reserve), reported at $2,600,000 after statutory calculations; a Powell Bill balance of nearly $4.5 million reported on annual grant reporting; public safety state forfeiture funds (state-only, not federal); culture and recreation donations (about $377,000, mostly for the theater); and building-permit-related revenues at about $2,900,000 that are restricted to permit/inspection-related expenditures.
Assigned fund balance items include the council’s fund balance policy set at 25% of the FY26 budget. Strickland reported FY26 budgeted general fund expenditures just over $71,000,000 and calculated an assigned balance equal to 25% of the appropriate base at $17,500,000. Other assignments include amounts set aside for airport grant matches (about $153,000 remaining) and downtown projects (originally about $3,000,000, now down to roughly $450,000 after recent appropriations).
The unassigned general fund balance was reported at $861,000. Since year-end staff appropriated amounts from that unassigned balance for police night-vision equipment and two downtown economic incentive grants, leaving about $625,000 of unspent appropriations as of the Sept. 9 meeting. Strickland said a budget amendment on the agenda reflected reappropriation of prior-year unspent appropriations for youth programs and other items.
Council members asked clarifying questions; no council action was required on this informational item.
The presentation followed governmental accounting standards and was positioned as preparatory work for the comprehensive annual financial report.
