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Financial Review Committee elects officers, forwards quarterly report and approves policy update
Summary
At its Nov. 10, 2024 meeting the Dana Point Financial Review Committee elected its chair and vice chair, forwarded the quarter-end financial report to City Council, and voted to update the infrastructure asset management policy, rescinding the community investment account policy. Key budget figures were presented.
The Dana Point Financial Review Committee on Nov. 10 elected its chair and vice chair, reviewed the city's quarter-end financial results and unanimously approved an update to the city's infrastructure asset management policy that rescinds the community investment account policy.
Finance staff reported that fiscal year 2023-24 closed with $52.2 million in revenues and $51.7 million in expenditures (or $44.7 million excluding $7.0 million in transfers). Staff estimated the city's ending fund balance at roughly $27.5 million and said unassigned general-fund balance ended about $12.3 million, approximately…
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