City finance director reveals impressive budget surplus

During a recent government meeting, key discussions centered around budget amendments and the introduction of the new finance director for the city of Boynton Beach. The meeting began with a focus on local vendor engagement for city services, where concerns were raised about the lack of prior notification to vendors regarding opportunities to apply for city contracts. It was noted that while local vendors were approached for pricing, it was deemed too late to include additional vendors for the current budget amendment.

Peter Kiokas was introduced as the new finance director, expressing his eagerness to work with the commission to enhance the city's financial health and community well-being. Kiokas provided an overview of the city's financial status, highlighting a $19 million surplus in the general fund as of March. He explained that this surplus was primarily due to early collection of ad valorem taxes, with total revenues for the general fund reaching $86.3 million against expenditures of $67.1 million. The utility fund also showed a positive trend, with revenues of $29.5 million and expenditures of $26.9 million, resulting in a surplus of $3.5 million.

Kiokas indicated that while the current surplus is significant, it is expected to decrease to between $1 million and $2 million by the end of the fiscal year as expenditures catch up. He also mentioned plans to provide more comprehensive financial reports in future meetings, potentially incorporating additional funds beyond the general and utility funds.

The meeting concluded with a smooth transition to the next agenda item, focusing on public works, as the commission expressed satisfaction with the financial updates provided.