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Fountain Hills CFO outlines FY25 results, warns of three fund shortfalls as council sets priorities
Summary
CFO Paul Soledinger told the council the town finished FY25 with modest reserves but identified three funding shortfalls—in capital projects/facilities, streets, and the Lake Liner—and defended a conservative revenue projection method that creates reserve “wiggle room” for those gaps.
Paul Soledinger, Fountain Hills’ chief financial officer, opened the council retreat with an overview of Fiscal Year 2025 revenues, departmental spending and the town’s conservative projection approach. Soledinger said the town’s major buckets performed unevenly: the streets fund brought in about $5.2 million; the capital projects fund received roughly $2.1 million in ongoing revenues; and the general fund receipts included roughly $28.5 million in sales and other local revenues. The town’s total reported revenues were discussed in two ways in the presentation; Soledinger repeatedly emphasized the distinction between townwide totals and the general fund when answering council questions.
Soledinger said the town intentionally uses a three‑step projection process—(1) establish a trend line from prior years, (2) reduce that…
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