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Council Approves Budget Moves: Year‑end Surplus Reported; Funds Shifted to YMCA and Homeless Services
Summary
Finance staff reported an estimated FY25 fund-balance surplus of about $8.5 million; council approved reallocations including $45,000 for YMCA egress renovation and $469,000 to support sheltering and homelessness services, and adopted code changes to settlement-authority thresholds.
The council heard a year‑end finance briefing and approved several funding reallocations to support community services.
Chris Cullin, the city’s director of finance, told the council the FY25 general fund showed roughly an $8.5 million fund‑balance surplus (about 3.4% of the adopted budget), driven by stronger‑than‑expected real‑estate and personal‑property tax receipts and interest income. Cullin cautioned that much of the improvement was one‑time in nature and recommended holding surplus funds in the city’s…
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