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Commission approves 2023–24 final budget amendment on first reading and approves grant fund amendments; auditors and debt figures discussed
Summary
On first reading the City Commission amended the fiscal 2023–24 budget, increasing the total from $58,887,439 to $59,515,389, and also approved grant fund amendments (CDBG, SHIP and program income adjustments); staff and commissioners discussed fund balance, capital reserves and long-term debt levels.
Fort Pierce staff presented and the City Commission approved on first reading ordinance 25-017, the final amendment to the fiscal year 2023–24 budget.
Finance staff explained the amendment increases the budgeted total from $58,887,439 to $59,515,389. Finance director Jana Morris told the commission the change was necessary as the auditors and staff finalized figures; "Our budget started at the 58,887,439, and we are amending that to 59,515,389," Morris said. The amendment increases the city's unassigned fund balance while reserving approximately $600,000 for next year's capital expenditures; Morris said the net increase to fund balance was…
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