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Council hears strong tax revenues, approves small transfers and several appropriations
Summary
Finance staff reported tax collections near or at budget and higher-than-expected revenues across several categories; the council approved transfers including a $32,000 Safe Streets match, $5,950 for purchasing wages, and multiple appropriations in police and equipment sinking funds.
The City Council received a monthly revenue and expense update and approved several small transfers and appropriations during the meeting.
Finance staff member Diane reported current tax collections at 99.9% of budget and said she expected collections to reach 100% once final postings conclude. Diane noted an increase of about $9.5 million on the current levy compared with the prior year and credited assessor personal-property audits for significant prior-year revenue recoveries. She said supplemental motor vehicle revenue was about $2 million and that investment earnings were at $2.7 million through May with a hope to reach $3 million for the year.
On motions, the council approved a $32,000 transfer within the Capital Projects Fund as the city match for a "Safe Street and Roads for All" grant application; a $5,950 transfer from general fund contingency to cover purchasing regular wages during staffing overlap; a $51,235 additional appropriation to the police private duty fund; and multiple appropriations from the equipment building sinking fund, including $51,235 and later $1,077,765 for capital outlay. The council also heard that roughly $3.2 million in encumbrances remain open and that city payroll obligations will be finalized shortly.
Councilors asked clarifying questions about prior-year tax revenue inclusions and the components of encumbrances. Diane confirmed prior-year collections include amounts billed before July 1 and reiterated that any Board of Education shortfalls would be covered from fund balance as budgeted. All listed transfers and appropriations were carried on voice votes during the meeting.
