Finance Director Christine Green presented the city's unaudited fourth-quarter financial report for fiscal 2024 during the Jan. 7 meeting and answered council questions about key fund results and next steps.

Green said the report is unaudited and the audit is pending. She reported the general fund revenues exceeded expenditures by approximately $700,000, attributing the surplus to higher sales-tax revenue and interest income and a $132,000 state veteran-exemption relief payment included in ad valorem receipts. The utility fund revenue exceeded expenditures by about $1.8 million, and water revenue was reported at roughly $5.4 million (about 116% of budgeted amount), which Green said could be related to drought-driven increased residential consumption. Stormwater revenues were essentially on budget; the golf course fund showed revenues exceeded expenditures by about $225,000 in the unaudited report.

Council members discussed the golf course's finances and how to move the operation toward covering its own costs. One council member said that when adjusting for venue-tax receipts, one-time costs and an internal administrative overhead charge of $310,000, the golf course appeared to have posted a loss of roughly $260,000 last year, but that excluding admin overhead showed operations near break-even. The same council member said construction at the course reduced rounds played and that the consultant working on the course should be asked to recommend ways to improve operations so the course can move toward covering ongoing operating costs; capital improvements remain a separate challenge.

Green also presented the city's investment report and fund-by-fund revenue/expenditure summaries and said staff will present audited numbers after the external audit is complete.