Richardson’s year-end financial report was presented to City Council by City Budget Office staff on Monday, Dec. 16. The focus was on the performance of revenues and expenditures at the end of Fiscal Year 2024 (Sept. 30) compared against the original budget adopted in August 2023 for the City’s five main operating funds.
General Fund revenues finished the year lower than anticipated primarily as the result of reduced revenue from sale tax. The lower than anticipated revenues were offset by reductions in planned expenditures in the General Fund. The revenues in the Water and Sewer, Solid Waste and Golf Funds exceeded original expectations. The year-end performance for all four of these funds (General, Water and Sewer, Solid Waste Services and Golf) does allow for the transfer of excess reserves to the City’s capital program to assist with future capital needs and for the reduction of future debt requirements.
Monday’s presentation: Click here
