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Shelton finance director reports tight general fund, projects close to budget as city prepares 2026 planning
Summary
Finance Director Mike Giddens told the Shelton City Council on May 20 that March estimates show revenue roughly on target and expenses slightly under budget, but warned the general fund is running on close margins as the city readies the 2026 budget.
At the May 20 council meeting, Finance Director Mike Giddens presented the March financial report, saying the month represents roughly 25% of the fiscal year and gives staff a useful early read on revenue and expenditures.
Giddens told the council that revenue is estimated to come in “just slightly above target” while estimated actual expenses are about $314,643 under budget. He noted approximately $200,000 of that variance is tied to the fire and emergency medical services line tied to property-value assumptions in the city’s interlocal agreement with Central Mason Fire; when netted out, he said the near-term savings drop to about $90,000.
On individual lines, Giddens reported a modest unfavorable variance in sales and use tax, which he estimated would be down about 3.5 percent for the year based on early data. He also noted declines in non-city utility taxes (cable and telephone) and flagged that business-and-occupation (B&O) tax receipts may exceed budget but remain uncertain. Giddens said miscellaneous revenue increases are tied to unexpected grants, donations and stronger investment interest.
The report showed general-fund vacancy counts improving (from about 3.5 vacancies last month to 1.5 in March) after the city filled a police officer position and a finance position. Giddens said many capital projects are drawing on other city funds; staff will continue monitoring fund balances and preparing for the 2026 budget.
Ending
Council thanked Giddens for the report; he said staff will continue to update the council monthly and incorporate the March findings into 2026 budget planning.
