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Meriden finance committee approves $459,000.25 transfer to true up FY25 accounts
Summary
The Meriden Finance Committee approved a resolution to transfer $459,000.25 from investment income to cover fiscal year 2025 overages after a finance director presentation showing revenues exceeded budget by roughly $2.3 million and the fire department ran $737,000 over budget.
Meriden’s Finance Committee voted to approve a resolution that transfers $459,000.25 from the city’s investment income account to cover departmental overages in the fiscal year ending June 30, 2025.
The finance director told the committee that overall revenues exceeded the FY25 budget by about $2,300,000 while expenses ran roughly $459,000 over a $222,000,000 budget. “For fiscal year 25, the good news is our revenues exceeded budget by about $2,300,000,” the finance director said, adding the bulk of the favorable revenue performance came from investment income.
The resolution is a routine year-end “true up” required by the city charter to align actual expenditures with budgeted…
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