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Prineville finance director reports $27.5 million combined fund balance at Q2; transportation and railroad funds show volatility
Summary
Finance Director Laurie Hooper Antrim reported combined city fund balances of roughly $27.5 million at the end of the second quarter, with projections of a $1.9 million decrease by year-end and notable capital spending affecting the Transportation and Railroad funds.
Laurie Hooper Antrim, Prineville finance director, told the City Council the combined fund balance across all city funds was roughly $27.5 million at the end of the second quarter and projected to fall to about $25.6 million by fiscal-year end.
Antrim said the transportation fund decreased roughly 39% through the quarter because of capital projects tied to the Summer Street rehabilitation and related work. She reported the general fund had increased, driven by electrical franchise fees and property tax collections, and that overall general fund expenditures were tracking at about 44% of the annual budget at quarter end.
The report noted several SDC (system development charge) trends: transportation SDCs rose to about $599,000, water SDCs were approximately $251,000 and wastewater SDCs were about $120,000. Antrim said 11 residential and one commercial start paid SDCs in the quarter.
On railroad finances, Antrim said operating revenue was about 56% of budget and that the railroad is managing grant work associated with a $1.6 million award that carries a 20% match requirement. She warned the railroad fund balance projection — a roughly $667,000 decrease — depends on whether the grant contract is in place before fiscal year end and on the timing of matching fund expenditures.
Councilors asked about an incident in which a truck struck a bridge on Madras Highway. Antrim said insurance has covered a portion of the cost and the city had received an initial payment; the insurer will seek recovery from the driver. She said the airport fund is run under an intergovernmental agreement and appears low because it operates at a zero balance across the agreement.
Ending: Councilors requested further detail on transient lodging tax breakdowns (hotels vs. short‑term rentals) and on SDC receipts by category; Antrim said the annual audit breaks those out and that prior-year information can be provided.
