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Finance director reports unaudited FY25 surplus driven by one‑time revenues; cautions on sales tax and labor costs
Summary
Albany’s finance director reported an unaudited FY25 general‑fund position about $800,000 positive after one‑time revenues (including a large property transfer), while warning that sales‑tax softness and higher labor and IT costs pose risks heading into FY26.
Finance Director Raina Schwartz presented a preliminary, unaudited year‑end review for fiscal year 2025 on Oct. 13 and announced the city received the Government Finance Officers Association award for excellence in financial reporting for FY24.
Schwartz said auditors were on site and the city aims to complete the audit by Dec. 31, with finalized audit numbers likely to reach Council in January. Staff described FY25 as showing stronger revenues than…
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