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Finance committee forwards FY2025 preliminary year‑end memo and plan to allocate surplus to full council
Summary
City finance director reported higher‑than‑expected revenues and near‑target expenditures; the committee voted unanimously to forward a preliminary plan for unallocated funds to full council for approval.
Finance and policy committee members on Aug. 4 reviewed a preliminary year‑end memo showing revenues above budget and expenditures roughly on target and voted to forward staff’s proposed plan for added fund balance to the full council with a recommendation for approval.
Finance Director Holly Abercrombie told the committee that property tax collections were the largest driver of revenue above budget, supplemented by stronger…
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