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City reports modest FY25 surplus and slightly lower reserves; sales tax lag noted
Summary
City budget staff reported unaudited FY25 results: revenues modestly above current estimate, expenditures under estimate yielding $3.6M moved to reserves; sales tax was $11.9M below budget but above the estimate used for planning.
City Budget and Organizational Excellence Director Carrie Lang presented the fiscal year 2025 fourth‑quarter unaudited financial report to the Audit & Finance Committee on Jan. 14, detailing revenue and expenditure variances and staffing vacancy rates.
Lang said the city ended the year $600,000 above its current year estimate for revenue and about $3,000,000 below the current year estimate for expenditures, allowing roughly $3.6 million to move…
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