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Council receives detailed budget‑to‑actual review for fiscal 2023–24; general fund ends above policy reserves
Summary
Finance staff reported that actual FY 2023–24 revenues and expenditures resulted in a stronger-than-budgeted general fund balance — with roughly seven months of operating reserves — and staff said they will present midyear adjustments in March.
City finance staff presented the fiscal 2023–24 budget‑to‑actual results to the council on Jan. 13 and the council agreed to receive and file the report.
Finance Director Linda Lieber walked the council through the results for the city’s five primary funds, explaining why wages and benefits often come in under budget (vacancies and turnover), which capital and grant projects rolled into the new year, and how one‑time connection fees raised water and sewer revenues for the year.
Highlights: Lieber reported that general fund revenues finished slightly above budget due to a modest increase…
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