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Council receives and approves August 2025 financial report; general fund cash projected to end FY below prior year
Summary
The council reviewed and approved the town’s August 2025 financial report. Staff reported year-to-date general fund revenue of about $1.5 million, expenditures of about $1.6 million through August, and a projected general fund balance of roughly $793,000 at year end, down from the prior year.
Sarah with the James Vincent Group presented the town’s August 2025 financial report to the council and answered questions before the council voted to accept the report as presented.
Sarah said general fund year-to-date revenue through August was about $1.5 million, with transaction privilege tax (TPT) collections of about $1.1 million and nontax revenue just under $43,000. Across all funds, she said TPT was down about 2.9% from the prior year; construction-related TPT and…
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