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Council committee reports Q1 finances and a $66.3 million unassigned FY25 fund balance
Summary
At the Jan. 27 work session, the Budget, Finance and Economic Development Committee reported a 1.6% revenue variance (about $1.8 million), a 6.7% expense variance, and an unassigned FY25 fund balance of about $66.3 million; no committee action was taken.
Council member James Brown reported the Budget, Finance and Economic Development Committee’s Aug. 21, 2025 summary at the Jan. 27 work session, presenting quarter‑one FY26 financials and fund-balance information.
Brown said the FY26 quarter‑one review showed a 1.6% variance between actual revenue and budget, totaling about $1.8 million, and a 6.7% variance in expenses between FY26 budget and actuals. Comparing FY25 to FY26 expenses produced a difference Brown described as roughly $7.4 million. Commissioner Hensley presented fund-balance detail and described the unassigned FY25 fund balance, after accounting for restrictions and assignments, as $66,296,172.
"The review of the top four revenue sources showed stabilization," Brown told colleagues, and he said no committee action was taken on the reported items.
Brown also summarized council allocations proposed for projects and noted committee discussion of council fund-balance uses; the committee adjourned at 2:47 p.m. with no formal votes recorded on the financial items.
Next steps: no formal action was taken; council members or staff may follow up on specific budget items in committee or future meetings.
