Finance staff presents second-quarter FY2025 budget report; general fund revenues exceed expenditures

Wendy Miles (identified as Miss Miles in the meeting) presented the city’s second-quarter FY2025 budget report, covering the period ending March 31.

General fund: Budgeted at $6,409,734 for the fiscal year, the general fund had received $3,034,652 in revenues (about 47% of budgeted revenue) and recorded $2,227,172 in expenditures (about 35% of budgeted expenditures) at the quarter close.

Transportation and other funds: The transportation fund and library fund figures were reported with their respective budget totals and quarter-to-date receipts and expenditures. The transportation fund showed lower receipt and expenditure percentages, while the library was at roughly 42% of receipts and 36–38% of expenditures.

Enterprise funds: The garbage fund was described as largely a pass-through with $501,477 received and $456,712 expensed to date. The water fund showed receipts near 45–52% of budget and expenses at roughly 20–41% depending on the line item cited; wastewater receipts were approximately 45–46% with expenses about 16%. Stormwater fund receipts lagged because a grant required the city to spend money first and wait for reimbursement; the fund had received about 17% and expended a similar portion.

Why it matters: The mid-year report provides an early indicator of revenue collection and spending patterns; staff used it to highlight funds where timing differences (for example, grant reimbursement mechanics) affect apparent fund health.

Ending: Staff concluded the second-quarter presentation and invited council questions; none were raised beyond clarifying notes in the report.