Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Fenton staff present preliminary 2025 budget; sales-tax dip and $2M transfer flagged
Summary
Finance Officer Tammy presented a 2025 preliminary budget projecting $8.5 million in revenues, a $12 million fund balance, a conservative 4% interest-income forecast and a $2 million transfer to capital projects while noting a roughly $200,000 sales-tax shortfall versus prior-year levels (exclusive of new marijuana revenue).
Finance Officer Tammy presented the Board of Aldermen with a preliminary 2025 budget that projects $8.5 million in revenues, $6.2 million in expenditures and a general-fund balance of about $12 million. Using year-to-date 2024 receipts and conservative assumptions, Tammy recommended a $2,000,000 transfer from the general fund to the capital projects fund and estimated a positive change in fund balance of $241,000 under those assumptions.
Tammy told aldermen she based utility and intergovernmental revenues on a nine-month average projected to 12 months, left general sales tax at $5,000,000 and noted that adult-use marijuana tax revenue — expected to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
