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Committee recommends moving FY2024 surplus to transportation and capital projects
Summary
Finance staff reported a FY2024 general-fund surplus of about $3.4–$3.6 million and the committee voted unanimously to forward a plan that would keep $500,000 in the general fund, transfer about $1.5 million to the Transportation capital fund, and move the balance to the capital projects fund for debt service and reserves.
Finance staff told the Finance & Policy Committee on Sept. 3 that the city closed FY2024 with revenues and expense management producing an estimated surplus in the $3.4 million to $3.6 million range.
Finance Director Holly Abber Crumby said department heads managed expenses well and that the city avoided unplanned disaster spending, allowing the positive year-end result. She…
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