"So, going down, $1.8M, that’s what we’re saying is our beginning cash balance? "
“Mhmm”
“Is that what we’re guesstimating was at the beginning of 2024? “
“Somewhere there has to be allocations to the SDCs and the streets” “I don’t know – because if you look at your street fund mayor the unreserved street fund balance is $817 thousand. So, we’re looking at $2 million (in unreserved funds). So, if you bounce to SDCs there’s another half a million in SDCs” “I know we don’t have that much money in the bank. We have $2.2M in LGIP, we have $600 thousand in Chase”.” So, those numbers don’t make sense to me, I think we have $1.5M floating”
“We’re on the same page. “
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Additional Context to this Transcript: In this audio clip, you’ll hear a discussion about the beginning cash balances (from the prior year) for various funds in the FY25-26 budget. The fund balances were based on historical data which participants believe is unreliable. The prior year budget from FY24-25 was completed shortly after Administrator Parry was hired, and it was based on historical budget numbers that the previous City Administrator used in earlier budgets.
What’s notable here is the very large beginning fund balances, which are so large as to seem almost unrealistic. However, the City Administrator sanity-checks the budget numbers by reporting the City’s actual cash/investment balances on-hand, which in April 2025 were approximately $2.8M.
