Shelby council hears finance committee year‑end report; places statements on file

Councilman McLaughlin told the Shelby City Council on Jan. 20 that the finance and personnel committee reviewed year‑end results for city funds and recommended the combined financial statement be placed on the city website. The council voted to receive the combined financial statement and the cash and investment reconciliation dated Dec. 31, 2024, and to place them on file.

McLaughlin said the packet shows income tax collections totaled $5,520,301 for the year, with December collections of $340,094. He reported wages were up about 3.1% and hospital/health fund costs rose roughly 11.6 (about $208,000), a trend he said the administration expects to continue into 2025. McLaughlin also noted a $1,000,000 certificate of deposit matured in January and will be moved to a local bank.

The report flagged several fund-level changes: water and sewer funds each rose by about $65,000 for the year, while electric fund expenditures exceeded revenues by roughly $184,000. McLaughlin warned the health fund’s balance — reported at $345,745 at month‑end — will likely face “significant reduction” in January because of heavy claims and said the administration plans to contribute to that fund to stabilize it.

Councilman McLaughlin moved to receive and post the combined financial statement and the cash and investment reconciliation (both dated 12/31/2024); Councilman Cutler seconded. Roll call showed votes in favor from Cutler, McLaughlin and Robb, and the motion passed.

Less detailed line‑item discussion in the meeting noted a nearly $60,000 drop in business tax return revenue and a one‑time increase in collections tied to a recent tax‑rate change and a collections partnership with the county prosecutor’s office.

The council did not take further budgetary action at the meeting; staff and department heads are preparing appropriation requests ahead of the formal appropriation process.