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New controller outlines revenue variances, PSAP fund shift and ongoing delay in audited ACFR
Summary
Controller Jeff McKinnon presented 2025 revenue and expenditure variances, explained that a supplemental state local income tax distribution boosted some funds, and said the audited Annual Comprehensive Financial Report remains incomplete though staff expect it in the coming weeks; public commenters urged the committee to set a six-month timeliness goal for the ACFR.
Jeff McKinnon, Bloomington’s new controller, presented the fiscal committee with a review of 2025 revenue and appropriation variances on Feb. 15, explaining that some large differences reflect where the city deposited receipts rather than an overall loss of revenue.
McKinnon said a periodic supplemental distribution of local income tax from the state produced unexpectedly large positive variances in controller office lines — he cited roughly $1.3 million hitting the general fund and about $1.7 million hitting the economic-development LIT fund — and said the city will know the supplemental distribution amount by about May 15.
The controller also outlined a structural change that affects reported figures: dispatch-related LIT revenue was moved into a separate PSAP (public-safety answering point) fund last year. “Dispatch…
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