Stonecrest finance director: May numbers posted; June closeout will be presented in August

Finance Director Gaines told the Stonecrest City Council at its July 14 work session that the financial report covering May 31, 2025, is posted and shows year-to-date revenues of $6,113,390; she said closing June will require additional reconciliation and will be presented at the August work session. Gaines summarized major revenue classes and noted that taxes and permits make up the largest shares: “A lot of our revenue come from our taxes, our excise taxes, our alcohol and beverages, building permits,” she said. She also reported special accounts including $1.1 million in hotel/motel receipts and $1.6 million recorded for capital projects to date. Council members and staff discussed scheduling and expectations for monthly reporting. Mayor Pro Tem asked that finance present a fully reconciled month so council has time to review before the packet is finalized; Gaines explained month-end bank and manual reconciliations typically require 10–15 days after the period close. The council agreed that moving presentations one meeting later (accounting month in arrears) would allow finance staff to complete reconciliations and reduce the need for corrective updates. Council members raised line-item questions during the session about the report’s display of percentages and variance fields; Gaines said the ERP system calculates percentage-remaining fields by line and she would follow up with clarifying detail. Members also asked for a more detailed breakdown of ARPA/Rescue Plan expenditures; city manager Mallory Scruggs and Gaines said staff would provide a project-level ARPA summary and a parcel/owner list tied to the proposed CID map when requested. Gaines listed recent and upcoming procurement activity: the city promoted a senior accountant, hired a grants administrator and has solicitations out or soon to be released for street resurfacing, athletic-complex parking lot work, park equipment installation and signage. She said expenses and revenue were roughly balanced through May and that the bulk of the year’s collections typically arrive in the fall. No ordinance or budget amendment was adopted at the July 14 meeting; councilmembers directed finance staff to post reconciled month-end reports when ready and to present the finalized June closeout at the August work session.