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Norco reports $1.8 million increase to fund balance; reserves total $37.9 million (unaudited)
Summary
City finance staff reported unaudited FY 2024-25 results showing an $1,800,000 increase in fund balance reserves, bringing the accumulated fund balance to $37,900,000; staff emphasized conservative budgeting and continuing monitoring as the next fiscal year budget is developed.
Finance staff presented unaudited year-end financial results for the fiscal year ending June 30, 2025, reporting a $1,800,000 positive increase to fund balance reserves and a total accumulated fund balance of $37,900,000.
The finance presentation noted the city maintains conservative budgeting practices to avoid unplanned deficits and will fold these results into trend analyses for the next fiscal-year budget process. Council members commended the revenue performance and asked about internal checks; Finance responded that figures were verified multiple times and that expenditure control combined with favorable revenues produced the positive variance.
Council voted to approve consent agenda items tied to the financial report; the consent votes were recorded as passing unanimously.
