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Finance staff reports improved revenues; council approves PO roll to carry projects into FY2026
Summary
Finance Administrator Rebecca Osteen reviewed September 2025 and January 2026 reports showing increased cash balances and varying fund performance; council approved a purchase‑order roll forward of prior‑year encumbered projects into FY2026 totaling several million dollars.
Rebecca Osteen, finance administrator, presented the city’s financial reports for September 2025 and January 2026 and reviewed investment summaries. She reported that September cash balances across accounts were about $61.7 million and that January cash totaled about $69.4 million, noting debt proceeds and timing differences affected revenue recognition. The presentation also described revenue and expenditure percentages across general, utility, special revenue, and capital funds.
Council then considered an ordinance to roll forward prior‑year projects and encumbered purchase orders into the current fiscal year (PO roll). Staff said the roll would move $2.2 million for the general fund, $647,346 for utility funds, and $1.3 million for special revenue funds for projects not yet completed. Council asked which projects were included and staff pointed to the attachment in the packet; the council approved the budget amendment and PO roll.
