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Smithville finance director reports healthy general fund and one-time savings as some projects shift to 2025
Summary
Finance staff presented unaudited FY24 year-end results showing higher-than-expected interest earnings (~$700,000), double-digit sales and use tax gains, and deferred capital projects that created temporary fund savings; staff cautioned revenues may normalize next year.
The city's finance director presented unaudited year-end results for fiscal 2024 and highlighted stronger-than-anticipated revenue performance and deferred capital spending that improved fund balances.
Rick (finance) said interest earnings were a positive surprise at roughly $700,000 on an original budget base of about $2.94 million, but he cautioned…
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