Shelton finance director reports near-budget revenues but warns of tight general fund

City Finance Director Mike Givens presented the March financial status report at the Shelton City Council meeting, telling members the city’s revenues are tracking close to budget while expenses are near budget and margins remain tight.

Givens described the March report as capturing 25% of the fiscal year and said estimated revenues overall are “just slightly above target.” He reported an estimated expense variance of about $314,643 under budget, noting roughly $200,000 of that was related to a lower-than-anticipated property valuation reimbursement to Central Mason Fire; net savings are closer to $90,000.

On revenue lines, Givens said property taxes should fully realize budgeted amounts once first-half payments are processed in April, while sales and use taxes are showing an unfavorable variance and are currently estimated to be down about 3.5 percent. He also flagged declines in non‑city utility taxes (for example, cable and telephone taxes) and noted business & occupation tax may exceed budget.

The report also showed citywide fund balances and noted capital funds are being drawn down for several projects. Givens said the city had reduced general-fund vacancies from 3.5 to 1.5 full-time equivalents after filling a police officer position and a finance position.

Council members thanked Givens for the work; the mayor noted Givens’s record and referred to his upcoming departure after years of service.