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Authority reports $9.7 million in revenues and positive April surplus; interest earnings noted
Summary
Deputy County Manager Erica Dye presented the financial statements for period ended April 30, 2025: total revenues $9,715,320, expenses $9,440,988, and a surplus of just over $274,000. Staff also highlighted money market balances, reserves and fiscal‑year interest earnings.
The Spalding County Water and Sewage Facilities Authority accepted financial statements for the period ended April 30, 2025. Deputy County Manager Erica Dye told the board that total revenues were $9,715,320 while expenses totaled $9,440,988, yielding a surplus of just over $274,000.
Dye reported that United Bank money market investment accounts totaled $12,000,000 and that the depreciation reserve stood at $972,325. The 2015 bond sinking fund had an ending balance of $1,091,075. She also reported that the total excess revenue for fiscal year 2025 as of April 30 was $344,683.
Dye noted interest earned in fiscal year 2025 in specific accounts: one United Bank Water Authority reserve account earned about $266,000, another United Bank account earned about $194,000, and $1,000,000 moved to a Truist account earned about $2,300. Board members discussed where interest is reflected in reporting; Dye confirmed interest is booked as revenue and included in the revenue total presented.
The board moved to accept the financial statements and voted unanimously to approve them.
