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May financials: Lexington reports slight revenue gains, year-end encumbrances and prefund timing
Summary
Staff told the committee May 2025 revenues were roughly $466.9 million through 11 months, expenses $431.3 million, and that prefunding decisions will appear in the June financial presentation; personnel and benefits drove year-over-year expense increases.
City finance staff presented the monthly financial update for May 2025 to the Budget, Finance, Economic & Development Committee on June 24, 2025.
Commissioner Hensley and Director Melissa Luker (filling for Director Holbrook) reported year-to-date (11 months) revenues of $466.9 million versus expenses of $431.3 million, with approximately $29.0 million transferred to other funds (primarily capital and affordable housing). The presenters said the net position at 11 months was about $7.0 million favorable to budget. "Our revenue collections were higher than we expected by about 1.4 percent," Commissioner Hensley said.
Staff cautioned that the…
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