Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Denison council approves FY2024 year‑end amendments; city reports reserves
Summary
Finance staff presented FY2024 year‑end budget amendments and carryovers; council approved the appropriations. City reported general fund ending FY24 balance of $8.1 million (64 days) and utility fund balance of $3.7 million (57 days).
Denison — The City Council approved fiscal‑year‑2024 year‑end budget amendments and appropriations to carry budgeted but unspent funds into FY2025, following a staff presentation on fund balances and amendment thresholds.
Finance presenter (recorded in the meeting packet transcript as Miss Ausebau/Alsabaub) explained the threshold for required amendments (revenues short by $50,000 or more, or divisions over budget by $5,000 or more) and said funds already budgeted in FY2024 but unspent will be appropriated into the FY2025 budget as carryovers.
Staff reported the General Operating Fund ended FY2024 with $8,100,000 — described as 64 days of reserve — and anticipates ending FY2025 with $8,000,000 (60 days of reserve). The utility fund ended FY2024 with $3,700,000 (57 days) and is projected to end FY2025 with $4,000,000 (57 days); staff attributed stronger cash positions to grant receipts (including a COPS grant), increased building permits and EMS revenue, while noting property and sales tax came in under budget.
Mayor Pro Tem Adams moved to approve the year‑end amendments and appropriations of necessary funds from FY2024 to FY2025; the motion was seconded and carried by voice vote.
No executive session was held; the council adjourned the meeting at approximately 6:28 p.m.
