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Loomis staff outline balanced draft 2024–25 budget, propose new ‘Fund 600’ to consolidate capital projects
Summary
Town finance staff presented a balanced draft 2024–25 budget emphasizing restricted fund balances, a conservative revenue projection, personnel adjustments and a new Fund 600 to consolidate capital project appropriations for greater transparency.
Town finance staff presented the draft 2024–25 budget and told the Loomis Town Council the document is balanced but tight, with restricted fund balances earmarked for specific uses and a conservative revenue approach.
The presenter said, "we have $6,636,000 estimated for revenues this year and 6.606 for expenditures," and explained that those figures reflect conservative assumptions and preparation for potential bond financing. Staff walked the council through the town’s multiple fund types — general fund, maintenance district funds, development impact fees, a tree fund, a supplemental law enforcement fund and a solid waste fund…
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