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Shelton finance director reports stronger-than-expected first-half revenues, fund balance higher than forecast
Summary
Finance Director Terry Pinter told the council Shelton’s April financial report shows an unreserved general fund balance of about $2.5 million, higher than projected, and year-to-date revenues modestly above budget; expenditures remain under budget overall despite some departments running unfavorable variances due to contracting and vacancies.
Finance Director Terry Pinter presented Shelton’s April 2025 monthly financial report to the City Council, saying the city’s unreserved general fund balance stood at "2,500,000.0, which is a $607,000 increase" from earlier projections.
Pinter told the council property tax receipts are "holding right about what we had projected at $33,000,000" and that sales-and-use tax is narrowing a previously unfavorable variance. He said business and occupation tax receipts looked strong after annual filers submitted by April 15 and that year-to-date revenues were about $311,000 over the original projection.
On the expenditure side, Pinter reported estimated 2025 general fund expenditures at about $16,000,000—roughly $295,000 under budget. He noted some departments (community development and public works) showed unfavorable variances because of unfilled positions and the need to contract out work; those are driving higher costs in utilities and capital projects within those funds.
Pinter summarized citywide fund balances and said the 2025 estimated fund balances rolled up to approximately $21,000,000 versus a budgeted $26.8 million; he advised the council that those figures will inform preparation of the 2026 budget.
Council members thanked Pinter and had no substantive changes requested; the report was presented for council information.
