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New CFO presents first-quarter financials; commissioners request budget 101 workshop and consultant breakdown
Summary
The city’s chief financial officer presented the first-quarter report (actuals through Dec. 31, 2024), showing revenues ahead of expenditures and nearly $31 million collected; commissioners asked for a public budget 101 workshop, a breakdown of consulting costs and details on unassigned fund balance once the audit closes.
Chief Financial Officer (CFO) presented the City of North Miami Beach’s first-quarter financial report, comparing actuals through Dec. 31, 2024 to the adopted FY2025 budget. The CFO said the city had collected approximately $31 million and spent about $20 million through the first quarter, producing a net favorable variance in early-year actuals. Much of the revenue was property-tax driven and many planned capital expenditures have not yet hit the ledger because CIP activity ramps later in the year.
Commissioner requests and staff response: Commissioners asked for additional transparency and education. Commissioner Smith requested a “budget 101” workshop for commissioners and interested residents; staff said a March workshop was planned as part of the budget calendar and that staff would meet individually with commissioners on priorities before that session. Commissioners also asked for a breakdown of consultant spending and the transit half-penny revenue allocation; staff agreed to return with those details.
Audit and fund balance: The CFO said the city’s audited unassigned fund-balance is not yet available because the prior-year audit remains in process; staff expects an audited figure in the coming months and urged commissioners that CIP encumbrances remain tied to project allocations even if projects do not start immediately.
Why it matters: Commissioners said they need clearer, recurring financial presentations and an accessible primer so they can track budget priorities across the fiscal year and evaluate consulting and CIP spending.
Next steps: Staff will schedule a budget workshop and follow up with a consultant-cost breakdown, a transit revenue explanation and the audited unassigned fund-balance when the audit is complete.
