The City of Prineville Council meeting on May 14, 2024, focused on the financial status of various city funds, highlighting significant revenue increases and expenditures across multiple departments.

During the meeting, the council reviewed the general fund, reporting revenues at approximately 108% of the fiscal year 2024 budget, totaling $9.6 million. Notably, franchise fees, particularly from electrical services, contributed to a healthy fund balance, which increased by $2.3 million to reach $5.6 million. Projections for fiscal year 2025 suggest a continued positive trend, with expectations of a fund balance nearing $5 million by year-end.

The transportation fund also showed promising results, with revenues at 74% of the annual budget, largely driven by gas tax collections. Expenditures were reported at 61%, with significant investments in capital improvement projects, including paving and electric vehicle charging stations.

The railroad fund reported revenues at 80% of its budget, with a notable increase in freight depot charges, marking a record high for the past decade. However, the fund balance decreased by 25%, attributed to ongoing capital projects.

In contrast, the airport fund faced challenges, showing a negative fund balance as it transitioned lease revenues and expenses to the county. Both the city and county plan to contribute equally to stabilize the fund by the fiscal year's end.

The golf course reported revenues at 74% of its budget, with a slight decrease in fund balance due to capital expenditures. Despite some operational losses in the early months of the year, the course has seen an increase in daily play and other service charges.

Overall, the quarterly report indicated a generally positive financial outlook for the City of Prineville, with various funds demonstrating resilience and growth, while also addressing areas needing attention. The council concluded the meeting with an invitation for questions, reflecting an open dialogue about the city's financial health.