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Board hears FY2025 forecast and approves finance committee recommendations, bond resolution and routine measures
Summary
Finance director reported a $32,000 projected FY2025 operating surplus driven by revenue gains and police overtime pressures; the finance committee recommended small CIP action, and the board approved a bond resolution and multiple routine resolutions by voice votes.
Director Wiggins presented the city's FY2025 general fund forecast as of Dec. 17, 2024, reporting a projected operating surplus of $32,000 composed of an expenditure deficit of $608,000 largely tied to police overtime and a revenue surplus of $640,000. Wiggins noted 16 police officer vacancies and severance paid through Dec. 16 totaled $1,036,149 compared with $709,505 a year earlier; the forecast assumes $200,000 from contingency.
After recessing for a Committee on Finance meeting, the board received the committee's recommendation to amend FY23 CIP and appropriate $10 for CIP 61023 (2022). The committee's report was accepted and the board approved the related motions by voice vote.
The board then moved and passed Item 29, a bond resolution, and Item 30, a set of resolutions; reading by title and voice votes carried each item. The board also approved confirmations for commission appointments and a space-usage agreement with Catholic Medical Center for the William B. Cash Senior Activity Center, all by voice vote.
No roll-call tallies were given during the meeting for the voice votes recorded as 'ayes have it.' The items passed were procedural or routine in nature; the finance forecast flagged police overtime and staffing as near-term budget risks.
