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Finance director: city ended FY24–25 with ~$31.9 million fund balance; net‑profits windfall not expected to repeat
Summary
Finance director Stacy reported the city closed FY24–25 with about $31.9 million in fund balance after net profits and insurance‑tax windfalls; staff cautioned that several revenue items were one‑time and outlined how noncash leased assets affect accounting and next‑year budgeting.
Stacy, the city’s finance presenter, briefed council on the FY24–25 audit recap and the first‑quarter FY25–26 update during the Nov. 24 meeting.
Stacy said the city began FY24–25 with roughly $25.1 million in reserves and ended the year with an estimated $31.9 million after recognizing about $6.8 million of net increases. She identified two large drivers: an approximately $8.1 million positive variance in…
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