Clear Lake City Council approves FY 2024 financial report

CLEAR LAKE — Clear Lake’s City Council last night approved the city’s Fiscal Year 2024 financial report.

City Finance Director Jacob Widman says revenues were higher than was budgeted and compared to previous years.   “We brought in for all funds excluding transfers $22,157,289. That is an increase from previous years. Some of that increase had to do with the Surf District project we have going on out there. For governmental fund revenues, they made up $19.9 million roughly, and proprietary fund revenues was the other portion which was $2.3 million.”

Widman says the city’s use of general obligation debt continues to be low.  “Overall the report shows that our debt, we had just over  $4 million in debt, which was roughly six percent of the city’s available debt limit, which I know City Administrator Scott Flory has brought it up multiple times, that’s a very very low debt ratio for the city.”

Cities are required to submit an annual financial report to the State Auditor’s office each year by December 1st.