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City's financial audit report shows $27M revenue increase and $74M expenditure rise

March 23, 2025 | Lewisville, Denton County, Texas


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City's financial audit report shows $27M revenue increase and $74M expenditure rise
In the heart of Lewisville's city hall, council members gathered to discuss the financial health and emergency management strategies of their community. The meeting, held on March 17, 2025, showcased a thorough audit report that highlighted the city's fiscal responsibility and planning for the future.

The audit, presented by city officials, revealed a robust financial position with governmental fund revenues totaling $231.7 million, marking a significant increase of $27.8 million from the previous fiscal year. This growth was attributed to rises in property taxes and intergovernmental revenues, including COVID relief funds. Notably, the city experienced no material errors or weaknesses during the audit, a testament to the diligent management of public funds.

Expenditures also saw a rise, reaching $318.2 million, primarily driven by capital outlay expenditures. The city invested heavily in infrastructure, with a notable increase of $59.6 million in capital projects. Despite these expenditures, the overall fund balance decreased to $233.1 million, reflecting strategic spending aimed at enhancing community services and facilities.

As the meeting progressed, attention shifted to emergency management updates. Emergency Coordinator Russell Marshall and Specialist Cindy Casey presented insights into the city's mass notification system and future initiatives aimed at improving community safety. Their updates underscored the importance of preparedness and communication in times of crisis, emphasizing the role of their dedicated team in safeguarding the community.

The council's discussions not only highlighted the city's financial achievements but also reinforced a commitment to proactive emergency management. As Lewisville continues to grow and evolve, the council's focus on fiscal responsibility and community safety remains paramount, ensuring that residents can thrive in a secure and well-managed environment.

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Scribe from Workplace AI
Scribe from Workplace AI