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Johnstown council approves 2026 budget using reserves and deferred revenue
Summary
Council voted to approve Resolution 10751, the 2026 budget, after the city’s auditor explained that reserves and deferred revenue balance the plan despite appearances that the budget is unbalanced on paper.
Johnstown City Council approved Resolution 10751 on Feb. 11, adopting the city’s 2026 budget after financial review and discussion of reserves and deferred revenue.
Joel Valentine of Wessel & Co., who reviewed the budget at council’s request, explained that the city’s fund balance (savings) and deferred revenue (grants received in advance of spending) were being applied to cover planned expenditures. "The fund balance is created by…
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