Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Transparency topic
No spam. Unsubscribe anytime.
Treasurer warns headline budget figures overstate city operating revenue due to pass-throughs and transfers
Summary
Treasurer Lori told Council the spreadsheet’s headline revenue number includes pass-through funds and interfund transfers, making published budget totals appear larger than the city’s actual operating revenue; she urged clearer reporting for public understanding.
During the revenue review Treasurer Lori explained why the city’s published budget totals can appear much larger than the operating money the city controls. "So at the very bottom number that we have to take out our actual money is $20,000,000 ... That's not our money, so I don't like to include it in there because it's I think it makes people think we have that money," Lori said, describing pass-throughs and transfers that inflate headline figures.
Lori said the city's accounting system adds general-fund transfers and pass-throughs so the published budget (the figure residents see) can be misleading; she proposed changing structures next year to reduce transfers and improve transparency. Council members pressed for a clearer reconciliation that separates city operating revenue from pass-throughs and enterprise accounts such as water.
