FY 2024-25 AUDIT RELEASED

The Fiscal Year 2024-25 annual financial audit has been completed and is available on the City’s website. Attached is a summary of the changes between the budget and the final audited figures.

Specifically, the year ended with a positive balance of $4,678,325, whereas the budget anticipated a deficit of $2.6 million after the labor agreements were adopted and expected to effectively break even with the data we had available in June 2025. As is the case with many years, our actual figures were much more favorable than the budget for the reasons we have previously indicated – better than expected revenues, underspending where expenses were not needed, and capital purchases avoided due to supply chain issues or departments not needing to replace equipment as quickly as expected. Since there was significant discussion regarding our FY 2024-25 figures and our annual audit process earlier this year, we will be issuing a press release regarding these audited figures.