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Shelby reports strong March income-tax collections; council files quarterly financial statements
Summary
Councilman Martin reported higher-than-average March income-tax collections and a nearly $1.9 million cash balance; the council voted to receive and post combined financial statements for January–March 2025.
Councilman Martin told the Shelby City Council the city’s income-tax collections for March approached $1.6 million, a record month that the finance director said is 24% above prior-year pace. He said the city treasury across all funds stood at $15,252,822.
Martin said the city’s cash balance in the general fund was $1,888,651 as of March 31. He noted the city may need to transfer funds into the street fund later in the year because of higher-than-expected salt and heating costs, and that staff is monitoring a hospitalization fund target the city now wants to hold at $380,000.
After the report, the council voted to receive, place on file, and post the combined financial statements and cash investment reconciliation statements dated Jan. 31, Feb. 28 and March 31, 2025. The motion was made by Councilman Martin and seconded by Councilman Roberts; a roll-call vote approved the motion.
Roll call on the filing motion showed votes in favor by Mr. Cutler, Mr. Martin, Mr. (transcript: "Glauchler"), Mr. Robb and Mr. Roberts; the motion passed.
The finance report also included personnel notes: several resignations (including positions in police, line, tax and nursing) and some recent hires and offers. Council members asked for follow-up questions and the finance director said staff would provide details as needed.
