Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Madera finance director: FY24–25 closed with positive unaudited balance; Q1 shows timing differences
Summary
Director of Financial Services Mike Lima reported FY24–25 unaudited results showing higher revenue than budgeted and lower expenses largely from timing and salary savings. Council was briefed on quarter‑1 variances, sales‑tax patterns, airport fund status and a preliminary runway reconstruction estimate of about $5.8 million.
Director of Financial Services Mike Lima presented a multi‑layer budget update covering audited work in progress, FY24–25 unaudited results and quarter‑1 (July–September) performance.
Lima said the city’s five major general fund revenue sources (sales tax, property tax in lieu of VLF, property tax, permit fees and transient occupancy tax) make up about 68% of general fund revenue. He summarized FY24–25 unaudited figures: total general fund revenue collected was about $42.6…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
