Finance Committee

Quarterly Report

2025 1st Quarter Meeting Summary

Agenda Tuesday February 11, 2025

City Hall Council Chambers @ 5:30PM

  • Call to Order
  • Roll Call
  • Approval of Minutes
    • Minutes from May 14, 2024
    • Minutes from August 13, 2024
    • Minutes from October 21, 2024
    • Minutes from October 28, 2024
    • Minutes from November 4, 2024
    • Minutes from November 18, 2024
    • Minutes from November 25, 2024
  • New Business
    • 2025 Financial Update
    • Finance Director Update
    • City Manager Update
    • Staff Recommendations to Council
  • Adjourn

2024 YEAR END FIANCIALS

The 2024 Year-end financials are included in the December Financial Report. Click Here

The following is a summary of the 2024 Financial Review:

  • 2024 income tax revenue ended the year 1%, lower than 2023.
  • The City's unencumbered General Fund balance at the end of 2024 was over $1.8 million, or 29% of annual expenditures.
  • Most major revenue sources among major City funds were slightly lower, or consistent with 2023 actuals at the end of 2024, including lodging tax, state taxes, and Fire Department Revenue. Interest earnings exceeded revenue expectations by over $200,000.

2025 FINANCIAL UPDATE

The 2025 Financial Update is included in the January Financial Report. Click Here

2025 BUDGET - STAFF RECOMMENDATIONS

Will update Committee during meeting on budget recommendations made by Staff to Council for the 2025 and beyond budgets.