City finance staff presented the city’s September financial report for FY2025, summarizing general fund, utility and sanitation revenues and expenditures and providing preliminary private‑sector‑style P&L figures for ThornTree Golf Club (the municipality’s recently acquired course).

Highlights included: general fund revenue at roughly 96.8% of budget through September with sales tax receipts still outstanding for the next two months; public utility fund collections near 98.6% of budget; and sanitation revenue near 96% of budget. Finance staff noted they have budgeted golf club revenue and expense for the coming fiscal year and that bank and onboarding tasks for the municipal enterprise fund are underway.

Finance staff provided a year‑to‑date private‑sector income statement for ThornTree through July and August showing a modest positive gross operating result year‑to‑date as the club moves toward the calendar‑year close. Council sought more detail: members asked for historical balance sheets and cash‑flow statements, three‑ to five‑year historical financials, a detailed debt schedule and any historical city subsidy amounts for ThornTree covering the period the city has responsibility.

Why it matters: ThornTree will be operated as an enterprise fund. Council said it needs audited or bank‑level statements and historical subsidy information to validate assumptions used in FY26 budget projections and to evaluate any planned transfers or subsidies.

Next steps: finance staff committed to providing ThornTree historical financials, the debt schedule and related documents to council as requested.