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City reports near‑budget FY2025 results but flags reserve and sales‑tax assumptions
Summary
City finance staff reported FY2025 unaudited year‑end figures showing general fund revenues of about $133.4 million and expenditures below budget after encumbrances; staff recommended watching an aggressive sales‑tax growth assumption built into the FY2026 budget and noted a low beginning rainy‑day balance.
City finance staff on Thursday presented unaudited fourth‑quarter financial statements for the year ended Sept. 30, 2025, reporting approximately $133.4 million in general fund revenues and total expenditures of about $136.2 million, before accounting for encumbrances.
“I am pleased to present the fourth quarter year end financial statements for the year ended 09/30/2025,” the finance presenter said at the workshop. Staff told the council that sales tax — the city’s largest single revenue source — came in above budget for the year, while…
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