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Live Oak council accepts monthly financial report; staff outlines conservative approach to 2025–26 budget
Summary
Council approved the financial report for the period ending Feb. 28, 2025, and staff previewed a conservative 2025–26 budget approach that may use fund balance for one-time capital costs while keeping recurring services steady.
The City of Live Oak City Council on April 29 accepted the monthly financial report for the period ending Feb. 28, 2025, after a staff presentation that described overall revenue growth and a conservative approach to the 2025–26 budget.
City staff reported total revenues of $10,632,019 and total expenditures of $7,900,000 through Feb. 28, leaving a net gain of about $2.6 million and a general fund balance of $17,058,748. Staff said property-tax collections are at roughly 92 percent of budget while sales tax receipts — the city’s largest revenue source — are running about 45 percent of budget and were…
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