Lindsay council reviews 2023–24 unaudited actuals, flags multiple fund deficits

Lindsay — City staff presented the 2023–24 unaudited actuals to the Lindsay City Council, detailing account-by-account beginning balances, revenues and expenditures and flagging several funds that require monitoring or corrective action.

Key figures presented: Staff reported the general fund began fiscal 2023–24 with a negative beginning balance of $816,134.45. The year’s revenues were reported as $10,000,017.81 and expenditures $10,198,982.72, leaving an ending general-fund balance shown on the screen of $998,035.74 and a stated general-fund deficit (net spending for the period) of $181,901.29.

Fund highlights and concerns: Staff walked through restricted funds and assessment districts. The presentation identified deficit or concerning balances in several accounts (including an emergency fund that began the year negative ~$559,503, and certain assessment-district accounts experiencing deficits) and noted that some deficits were planned (for example, capital funds drawing on beginning balances) while others require further review.

Staff response and next steps: The finance presenter said auditors may adjust the unaudited figures during the formal audit and emphasized staff training on budget coding and multi-year review to avoid surprise deficits. Council asked for follow-up on specific funds that have run deficits for multiple years and for clearer staff guidance on budget entries.

Action taken: Council approved receiving the unaudited actuals report and moved the item forward (motion and affirmative voice vote recorded). Staff and council said they will continue monitoring and return with corrective options where needed.

Sources: Presentation of unaudited actuals at the council meeting; staff remarks and council discussion.