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Staff previews fiscal-year 2025 budget amendment; public hearing and adoption planned
Summary
Finance staff summarised carryovers, program carry-forwards and revenue updates for the FY24-25 budget amendment, noted large capital project timing changes, and scheduled a public hearing and adoption at the next council meeting.
City finance staff presented a summary of the fiscal-year 2025 budget amendment May 6, explaining carryovers from FY24, adjustments to functions and timing changes for major capital projects.
The presentation grouped budget changes by function (public safety, general government, culture and recreation, debt service and capital projects) and distinguished between carryovers (items budgeted in FY24 but purchased in FY25) and new budget amendments for unanticipated or strategic expenditures. Staff noted that the state reviews expenditures by function (for example, public safety) rather than by department.
Key points staff highlighted included: several carryover purchases for public safety (patrol vehicle technology and gate access paid from federal forfeiture funds), special-revenue timing for community and economic development (CDBG projects slower than anticipated), and a large capital timing adjustment tied to the Albernet Road Extension project moving into future fiscal years. Staff said the Albernet extension and some other large projects will shift spending into the next two fiscal years and that the budget amendment focuses on significant items to avoid an audit finding for overspending in any function.
Staff also noted higher-than-anticipated interest revenue compared with earlier assumptions and a planned internal transfer related to McGowan House sale proceeds to reimburse general-fund repairs. The finance staff said the public notice for the budget-amendment hearing will publish Saturday and that council will hold the public hearing and consider adoption at the next council meeting.
Next steps: public notice will be published and a public hearing and adoption of the FY25 budget amendment will be scheduled at the next council meeting. Details of amended categories and reasons will be made available in the public notice and council materials.
