Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council hears carryover and B&O update; staff to return with carryover amendment
Summary
Finance staff reported a stronger-than-expected 2024 closing, presented proposed 2025 carryover/beginning-balance allocations and updated the council on the city’s newly implemented business (B&O) tax; staff will bring a carryover amendment to the council for approval next week.
Finance staff presented the city’s year‑end closing and proposed carryover (beginning balance) adjustments for 2025 and provided an update on the city’s newly implemented business and occupation (B&O) tax.
City finance staff said the city closed 2024 with an ending general‑fund balance slightly above $10 million — higher than the amount assumed in the 2025 budget. Because revenues exceeded earlier estimates, staff proposed allocating part of the surplus to capital reserves and carrying program‑specific funds forward into 2025 where…
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
