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Comptroller: general fund revenues down $1.5M, cash down about $6M as ARPA spending winds down
Summary
Comptroller Robinson reported that compared with Q3 2023, general fund revenues are down about $1.5 million, expenses are down about $4 million, and the city's cash position is down roughly $6 million, largely because ARPA funds are being spent down and some capital receipts are timing‑sensitive.
Comptroller Robinson compared third‑quarter 2023 results to third‑quarter 2024 and told council that general fund revenues were about $1.5 million lower year‑over‑year while expenses were down roughly $4 million. He attributed much of the change to spending down ARPA and timing differences in capital and bond proceeds; he said the city—s cash position is down about $6 million primarily because ARPA revenues are drawing down and some bond proceeds have not yet been received.
Robinson noted that the sewer fund benefited from a large payback from the joint sewer plant and that the golf fund has higher revenue and expenses tied to expanded amenities. He explained that some funds are listed as deficits in the capital fund because they include bond anticipation notes (BANs) and serial bond timing; the comptroller said those timing and borrowing decisions will be addressed in the city's January bond ordinance.
Robinson reiterated his office—s work to identify ARPA lines that can be re‑obligated into 2026 salaries or other eligible projects and reiterated the Treasury guidance that an "obligation" generally requires a signed contract by 12/31/24 to avoid forfeiture. Council members asked for follow‑up detail on demo lien recoveries and the status of specific capital projects.
