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Greer releases December 2024 financial summary; general fund shows $11.0 million cash balance
Summary
Finance director reported the city had $11,024,000 in the general fund cash balance for December 2024, year-to-date revenue of $10,219,000, and year-to-date expenditures of $20,750,000; overall the city showed an 8% under-budget figure for expenditures.
At the Greer City Council meeting on Jan. 28, 2025, Finance Director Mr. Klein presented the city’s December 2024 financial summary, reporting a general fund cash balance of $11,024,000, year-to-date revenue of $10,219,000 and year-to-date expenditures of $20,750,000.
Klein told the council the city was about 8% under budget overall on expenditures and cited a favorable expenditure benchmark figure of approximately $3,550,000; combining revenue and expenditure benchmarks produced an overall favorable benchmark variance of about $3.8 million. He further reported the hospitality fund had a cash balance of $2,217,000, year-to-date revenue of $1,942,000 and expenditures of $728,000. The stormwater fund showed a cash balance of $2,678,000, year-to-date revenue of $480,000 and year-to-date expenditures of $732,000.
After the presentation council members had a brief exchange seeking clarification on how the $3.8 million benchmark variance was calculated; Klein explained it combined revenue overage and expenditure benchmark figures and how that produced the reported variance. The finance director closed by offering to answer additional questions and remained available to staff and council for follow up.
