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Finance director: FY25 revenues close to budget; town used $2 million from fund balance for public works capital reserve
Summary
Finance staff told the council that FY25 revenues were at about 98% of the budget at the time of presentation and that the town made a final allocation of $2,000,000 from fund balance to the Public Works Capital Reserve, reducing the likelihood of adding to fund balance at year end.
Finance staff presented a year‑to‑date financial review for FY25 and told council the town is near fiscal year‑end close.
“Right now, our overall revenues are at 98% of budget,” Finance Director Miss Massey said. She told the council ad valorem collections were strong at about 99.7% (staff budgeted conservatively at 96%). Several revenue lines, including certain…
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