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Treasurer Peggy Waller reports May financials; budget and infrastructure items noted
Summary
The board heard financial statements through May 31, 2025, including budget figures, a tax-law-related $95,000 increase since January, replacement of two water-plant valves, and infrastructure engineering expenses.
Peggy Waller presented the financial statements for the period ending May 31, 2025, and reviewed year-to-date revenue and expenditures with the Board of Trustees.
Waller said the board’s comparative position showed “a loss of $304,000 at this point last year” and noted a recent tax-law change. “Since January 2025, when the tax law changed, we've taken an additional $95,000,” she said. Waller directed trustees to the budget pages and said the board is budgeting $3,709,000 in revenue and $3,423,000 in expenditures for the year.
Waller also described capital-related items: a water storage fund payment to a company identified as Warner for replacement of two valves at the water plant (the work had been budgeted last year but completed this year) and an infrastructure fund charge of $17,003.99 for engineering-related expenses. She said warranty and staff training remain probable expenses and that nothing unusual appeared in the month’s statements.
The transcript does not show additional line-item detail such as the specific funding sources for those capital expenditures or a formal vote tied to the financial report; trustees asked no substantive follow-up questions in the provided excerpt.
