Budget and Finance Committee

The Budget and Finance Committee postponed action on three critical budget ordinances totaling over $100 million in budget adjustments, with the general fund ending reserve balance falling below the city's emergency reserve floor. Finance Director Andy Asbjornsen presented three interconnected ordinances designed to reconcile 2025 budget figures with actual financial conditions after closing the books on 2024. The committee opted to delay voting until April 28, 2025, to allow more time to digest complex financial data spanning dozens of city funds and capital projects. The three ordinances collectively address $41.4 million in beginning reserve adjustments, $104.6 million in reappropriations from the previous budget cycle, and $32.9 million in budget corrections. Most significantly, the adjustments would leave the general fund with an estimated ending reserve balance of $17.43 million, which falls approximately $700,000 below the city's 18% emergency reserve target and sits just under the 15% emergency reserve floor. City Manager Shane Minkin disclosed that department heads are currently preparing 3% budget reduction proposals as the city grapples with continued pressure on the general fund. The Medic One fund continues to struggle financially, requiring a potential $200,000 interfund loan on top of previous assistance. Committee members expressed concerns about the overall budget picture and requested additional information about Justice Project funding obligations before making decisions. #