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Finance committee reviews midyear budget, flags reserves and subsidy needs
Summary
City staff told the Finance Committee that FY25 audited results left the general fund with an $11.6 million ending balance (about $400,000 below the adopted estimate), cited $3.5 million in encumbrances and recommended options—such as freezing FY27 spending—to rebuild reserves.
Kim Kaufman, budget manager, presented the midyear budget packet to the Finance Committee on Jan. 15 and said audited FY25 figures produced an ending general fund balance of $11.6 million, about $400,000 less than the amount assumed when the FY26 budget was adopted. She told the committee the difference largely reflects timing and outstanding purchase orders that remain as encumbrances rather than final expenditures.
Kaufman noted a $3.5 million reserve for encumbrances—purchase orders issued in FY25 or…
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