Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Buffalo finance committee: December cash flow OK but single audit flags $38M fund-balance shortfall
Summary
Deputy controller told the finance committee the city closed December with $42.7 million in cash but the single audit found available fund balance about $38 million below the city policy target, prompting calls for monthly reporting and additional savings.
Deputy Controller Delano Dowell told the Buffalo City Committee on Finance that the city began December with about $49,800,000, received nearly $135,000,000 during the month and disbursed roughly $142,000,000, leaving an ending cash balance of $42,665,000. "We did file December 2024 cash flow report," Dowell said, and highlighted higher sales-tax and property-tax receipts compared with December 2023.
The committee also reviewed the single audit, which identified a shortfall against the city's fund-balance policy.…
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
