Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
City reports FY25 finances; officials flag staffing-related costs and uncertainty from state refund claims
Summary
Finance Director Jennifer Knapp said the city kept to fiscal responsibilities while spending down reserves on approved projects and noted a $1.9M increase in salaries (largely public safety); council asked about potential state tax refund liabilities tied to corporate refund programs, and staff said they have no firm estimate.
Finance Director Jennifer Knapp presented the city's FY25 financial report and said the city "kept to its fiscal responsibility" while spending down reserves for approved projects, including the fleet building and ARPA-funded stormwater work.
Knapp told council that salaries rose year over year by roughly $1.9 million (about $1.5 million attributable to public safety staffing) and that the city saw a revenue decline because prior-year federal funds and one-time library donations were larger. She also said lower invested balances contributed to declined investment income.
Councilman Von Barron asked whether the city had an estimate of potential liabilities from state refund applications under programs such as the Nebraska Advantage Act and the Imagine Act. Knapp said staff had no firm number; staff described that the state notifies municipalities when a refund application is received and that the city learned of a $122,000 withholding in December associated with an earlier refund process, but said, "we don't know who it is or how many," meaning staff could not provide an immediate liability total. Council subsequently moved to receive the report (motion recorded; vote tally not specified in the transcript).
Next steps: staff will continue to monitor notifications from the state and brief council on any material liabilities that could affect future revenue assumptions.
