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At the state level, the legislature is working with a $456 million surplus based on the February 2025 <br /> forecast, but are anticipating a $6 billion shortfall for the FY 2028-29 biennium. The Legislature will need <br /> to adopt any budget amendments by May 19t", or hold a special session to complete any unfinished <br /> business. <br /> Finance Department Operations: <br /> The audit fieldwork is complete for the 2024 audit and LB Carlson will present their management report <br /> at an upcoming Council meeting. Staff is working on the five year financial plan with adoption at a July <br /> Council meeting. Staff has started work on the 2026 City budget. Budget work will continue thru the <br /> summer and into the fall. <br /> Recommendation <br /> Staff recommends the City Council review and accept the quarterly report. <br /> Respectfully Submitted, <br /> Gayle Bauman, Finance Director <br /> Attachments <br /> Exhibit A— General Fund <br /> Exhibit B — Other Governmental Funds <br /> Exhibit C —Water Fund <br /> Exhibit D — Sewer Fund <br /> Exhibit E — Street Lighting Fund <br /> Exhibit F — Surface Water Management Fund <br />