Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance Committee hears August cash position, anticipates several 2025 revenue shortfalls
Summary
The boroughfinance director told the Finance Committee on Sept. 10 that the borough closed August with roughly $29 million in cash but flagged several revenue line-item shortfalls for 2025 and a cash concern in the liquid fuels fund.
The boroughfinance director told the Finance Committee on Sept. 10 that the borough began August with $28,912,362 in cash, received $2,861,516 in receipts and spent $2,196,921, leaving an ending cash balance of about $29,000,005.76. Barb, the director, delivered the monthly financial report.
Why it matters: the report identified several revenue items likely to miss 2025 budget targets, and a small but concerning cash position in the liquid fuels fund that could constrain winter operations.
Barb said the due-to/due-from balances as of Aug. 31 were elevated, driven mainly by capital expenses that currently lack cash and are temporarily fronted from the general fund. "The capital budget for 2025, the revenues are dependent mainly on grants, and we don't get the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
