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Finance committee: city reports an estimated $2.6 million unaudited net loss for 2025; $2.2 million of fund balance used to buy land for Fire Station 1
Summary
At a March 2 Finance Committee meeting staff reported an estimated $2.6M net loss for 2025, a decline in undesignated fund balance to about 25.13%, $2.2M used to acquire land for a new Fire Station 1, a $1.17M health-insurance overage, and delayed federal SAFER grant and flood-insurance reimbursements that staff expect within roughly 60–90 days.
City staff provided a high-level review of unaudited 2025 general fund results at the Finance Committee meeting on March 2, reporting an estimated net loss of about $2.6 million.
Jesse (staff presenting the report) said the city’s projected undesignated fund balance would fall from 28.06% to roughly 25.13% compared with the 2026 budget, noting that the Government Finance Officers Association recommends a minimum of 17%.
Key drivers cited by staff include a $2.2 million use of undesignated fund balance to purchase land…
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