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Finance director outlines utility fund needs, Stonewall payment and CIP tracking plans
Summary
Finance Director Joshua Armstrong reviewed the utility funds for FY2025–26, highlighted that revenues are up and expenditures down by fund, outlined a final Stonewall agreement payment (estimated under $1.5M), proposed a new rate study, and introduced a new CIP staffer to manage project tracking.
Joshua Armstrong, the city’s finance director, led council through the utility funds discussion for fiscal year 2025–26, summarizing revenue and expenditure adjustments, near‑term liabilities and upcoming rate‑study work.
Armstrong said revenue projections rose across all utility funds based on recent rate‑study consultant work and that expenditures were reduced after reallocating some items. He noted that the wastewater budget includes a programmed payment…
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