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Finance committee: unaudited 2025 shows $2.6M shortfall; health‑insurance overrun flagged
Summary
City finance staff reported an estimated $2.6 million unaudited net loss for 2025, driven by a $2.2M land purchase for a new fire station and a $1.17M health‑insurance overrun; officials said expected SAFER grant and flood‑insurance reimbursements (about $810,000 combined) should partially restore fund balance in 60–90 days.
At the March 2 finance committee meeting, staff presented unaudited 2025 results showing an estimated net loss of about $2.6 million and a projected decline in undesignated general‑fund balance from 28.06% to 25.13% compared with the 2026 budget.
S10 (Jesse) and S11 (Carrie) explained three primary factors behind the unaudited position. Jesse said a planned use of $2.2 million in undesignated fund balance was used to purchase land for a new Fire Station 1; that action had been budgeted and executed in 2025.…
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