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Finance director reports May budget trends; council accepts report
Summary
Finance Director Kegan Carwin presented May budget figures showing some revenue variances year-to-date; the council accepted the May budget report and claims after brief discussion and roll-call votes.
Kegan Carwin, city finance director, presented the City of Sydney’s May budget report at the June 10 council meeting, outlining revenue and expenditure variances across major funds and recommending continued monitoring.
Carwin said property-tax receipts were down about $2,500 from the same month last year (approximately −0.44%), while sales and occupation tax receipts were down roughly $7,650 (about −3.86%) year over year; he noted the sales-tax figure had improved from the previous month and that year-to-date collections were roughly in line with the budgeted pace (about 68% through the fiscal year). Fees for service were down about $39,100 (roughly −29%), which Carwin said was primarily a timing issue tied to pool passes and seasonality.
Carwin reviewed individual enterprise funds: street, electric, water, sewer and landfill. He observed that electric showed a large reported negative (about $1.3 million) driven in part by a planned $2.4 million payment associated with a generation plant, and he said once that planned payment is considered, the operating position is consistent with expectations. Water and sewer variances were driven in part by timing and capital assessments; landfill revenues were recovering after a prior negative trend.
Councilmembers asked which departments appeared likely to beat or miss budget projections. Carwin and colleagues identified the landfill as likely to outpace projections (in part due to one-time events that increased revenue) and noted supply-chain delays were affecting the wastewater-treatment facility upgrade and contractor scheduling for capital projects. The council and staff agreed to continue tracking seasonal and supply-chain effects.
Councilmember Brett Kirkman moved to accept the May budget report; the motion was seconded and passed on a roll call with all councilmembers voting yes. The council also approved the May claims in a separate roll-call vote. Carwin answered follow-up questions about department variances and advised the council that staff would monitor the noted trends and report back.
