Finance director reports improving revenue trends; city moves matching funds for East Terry pathway into fiscal year 1

Lisa Griggs Roth, director of finance, presented the city’s monthly financial report for June and an update on budget planning for the next fiscal year.

Griggs Roth told council that sales‑tax receipts had trended down early in the fiscal year by about 7 percent but have shown a positive trend in recent months. She said the city budgets in line with state revenue projections and expects to meet budget projections for those revenue streams.

Restricted revenues such as downtown revenue‑sharing with Lee County, building fees and road impact fees were described as positive. Griggs Roth said the city has the downtown revenue‑sharing funds set aside to pay related debt service, and noted that restricted cash balances for park impact fees, stormwater and building fees are accumulating to match project timing.

The finance director reported the city has $2,000,000 from the state reserved to help with potential disaster recovery and that, because the city received a grant agreement for the East Terry multi‑use pathway, the city moved $270,000 in matching funds from year two into year one of the CIP. She said the total project cost did not change; only the timing of the local match was advanced to enable grant receipt.

Griggs Roth reviewed the budget calendar: two public hearings are scheduled in September (tentative and final millage votes) consistent with Florida statutory requirements; the city will present a full budget draft at the next meeting and hold the statutorily required public hearings.

Council offered no substantive changes during the update; the finance presentation concluded and staff opened the item for council direction.