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City treasurer reports general fund dip and mixed tax trends; clerk reports $774,611.88 in February sewer receipts
Summary
At the March 17 Lincoln City Council meeting City Treasurer Conso said the general fund balance is down about $700,000 from the prior year while sales tax receipts through November were higher year-over-year; City Clerk Bateman reported $774,611.88 in sewer receipts for February and $68,741.80 from prison accounts.
City Treasurer Conso told the Lincoln City Council on March 17 that the city's general fund balance is roughly $700,000 lower than it was a year earlier and urged vigilance as the fiscal year finishes.
“It’s not that that’s a balance that we need to be real upset about, but it is not going in the right direction,” Conso said during the February financial report, and he said the city should “pay very close attention” as bills come due at the end of the fiscal year. Conso also noted a change in investment holdings tied to a certificate of deposit that matured in the prior month.
Conso described mixed tax trends. Sales tax receipts through the liability month of November were higher than the prior year (transcript references approximately $3,839,000 through November versus $3,660,000 the prior year) and use-tax receipts appeared to be trending upward; personal property replacement tax receipts (PPRT) remain volatile and are down, the treasurer said. He also said police and fire pension funds were slightly down compared with a month earlier and mentioned recent stock-market movement could affect investment balances in coming statements. On video gaming, Conso said last month's receipts were about $41,000 and that annual receipts have stabilized near the earlier projection of $500,000.
City Clerk Miss Bateman reported February sewer receipts of $774,611.88, noting that the month contained payments from customers making annual sewer payments. Bateman also reported two payments from prisons totaling $68,741.80.
The council asked no substantive follow-up questions during the reports; Treasurer Conso concluded by noting the city will monitor receipts for December and subsequent months to confirm trends.
Why this matters: The general fund balance drop and mixed tax signals affect near-term budgeting decisions and the council's ability to commit to unbudgeted expenditures. The reported sewer receipts include annual payments and one-time prison-account receipts that temporarily increase that fund's cash position.
Ending: The council accepted the financial reports; no formal action was taken on the treasurer's or clerk's reports at the meeting.
Quotes
“It’s not that that’s a balance that we need to be real upset about, but it is not going in the right direction,” said Treasurer Conso about the general fund.
