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Englewood finance director: April report shows revenues on track, $1.2 million operating deficit
Summary
Director of Finance Kevin Ingalls told the City Council at a June 2 study session that April 2025 revenues and expenditures are tracking near expected seasonal levels, with an April operating deficit of about $1.2 million and a projected general fund balance near $19 million for 2024.
Kevin Ingalls, Englewood’s director of finance, presented the city’s April 2025 general fund monthly financial report at the City Council study session on Monday, June 2. Ingalls said revenues are “right at a third of budget” about one-third of the way through the year and overall are roughly $900,000 higher than the same period last year. Sales and use tax is down about 1% year over year, while licensing and permitting have increased because of a large construction project.
Ingalls told council that expenditures are at 34.2% of budget, “right in line” with this time last year. He said a few departments — legislative, information technology and police — show higher shares early in the year because some contracts are paid up front rather than spread across months. The report shows an operating deficit of roughly $1.1–$1.2 million for April, comparable to the same point in 2024.
On fund balance, Ingalls said the city is “far enough along in our 2024 audit” to be confident in estimated year-end balances. He reported a 2024 total general fund balance of about $19.0 million, an assigned ending balance of $4.7 million for 2024, and a projected unrestricted reserve of $11.8 million (about 16.7%). The April 2025 column in the materials showed a total fund balance of roughly $15.5 million and an unassigned fund balance of about $1.1 million.
Councilmember Russell asked why the March financials were not presented separately; Ingalls said the March report was included in the packet but was combined with April because an earlier meeting had been bumped and a quorum issue delayed an earlier presentation. No formal action or vote was taken on the report; Ingalls answered council questions and the session moved on to the next study item.
The presentation provided council a regular fiscal snapshot and prompted questions about reporting cadence; Ingalls said the city plans to combine some months in the future (May/June) and present them in July. No changes to transfers or new policy actions were recommended as part of the April report.
