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Columbus council reviews FY24 reconciliation; finance director says revenues largely exceeded estimates but a $2.4 million shortfall remains
Summary
Finance director presented the FY24 final budget reconciliation, saying revenues finished above estimates in most categories but the city faces a roughly $2.4 million shortfall requiring use of reserves and reallocation across departments. Council deferred final vote to next meeting at the finance director's request.
The City of Columbus Finance Director (Miss Alexander) told the Columbus City Council on Dec. 10 that the administration is seeking a final reconciliation of the FY24 budget before auditors close the year. The amendment would adjust the prior-year budget to align recognized revenues with final expenditures and close the audit process.
Miss Alexander said revenues across most categories — property tax, sales and use tax, business and other taxes, charges for services and interest income — came in higher than were budgeted for FY24, reducing the overall pressure on reserves. She said total FY24 general fund spending was just over $205 million and that the reconciliation will increase the previously adopted FY24 budget by roughly $2.4 million to…
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