The City Council recently reviewed the FY 2024-25 year-end financial report, which showed overall strong performance across the City’s major operating funds. The General Fund exceeded revenue projections, driven by higher-than-expected sales tax collections, and closed the year with reserves above the City’s 90-day policy minimum. The Water and Sewer Fund and Solid Waste Fund also ended the year in solid financial condition, maintaining healthy fund balances despite revenue variability and rising costs. The Golf Fund surpassed revenue expectations, while the Hotel/Motel Fund experienced softer performance due to market conditions but remained stable through expenditure controls.
City leadership noted that while current finances remain stable, long-term budget challenges persist due to state-imposed limits on property tax revenue growth, rising operating costs, and potential future mandates. These factors will be central to discussions as the City begins planning for the FY 2026-27 budget.
Monday’s presentation: Video
