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Finance committee reviews November fiscal report; officials flag timing and collection issues
Summary
At a finance committee meeting, the CFO and treasurer reported modest revenue increases for FY25 but higher expenses in some funds and noted delayed postings and servicer errors that reduced reported real-estate collections; accounts payable and collection-rate declines were highlighted.
The City Finance Committee received its November fiscal report in a meeting that included a presentation from Stacy Jordan, the city’s chief financial officer, and a detailed treasurer’s report from Maya Bowling.
Jordan told council members that citywide revenues for fiscal year 2025 were trending about 1.72 percent higher than for 2024 (roughly $6.9 million), while expenses were also up. She said the general fund showed approximately $944,000 more in revenues but about $2.5 million higher expenses compared with the prior year; Jordan said the adopted FY25 operating budget was larger than FY24, which accounts for much of the difference.
Jordan described enterprise fund performance as stronger year over year, reporting enterprise revenues up roughly 3.57 percent (about $4 million) and…
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