Treasurer reports lower pooled cash, ARPA commitments and water/sewer deficits in Jan. 31 financials

Treasurer Markowski presented the Rutland City and Rutland Redevelopment Authority financial reports for the period ending Jan. 31 during the Feb. 18 Board of Aldermen meeting, outlining cash balances, ARPA assignments and operational variances.

Key points from the treasurer’s report: pooled cash balances were lower than the prior year in part because ARPA funds have been spent and prior bond cash had not been expended last year; an assigned ARPA balance of about $1.3 million remains for approved projects; unassigned fund balance was about $2.9 million (above the city target of roughly $2 million for liquidity); water and sewer funds continue to show deficit cash‑flow with water/sewer balances over 90 days at about $242,000 (down from $310,000 the prior year); and general fund expenses were at about 67 percent of budget year‑to‑date (compared with a pro rata target near 58 percent for seven months).

Markowski noted rising electronic payment fees (e‑check fees rising from $1.50 to $3.50) and strong ParkMobile receipts that have improved parking fund revenue. The treasurer also reported one property scheduled for tax sale the next day and several other properties under discussion for payment agreements under changed tax‑sale rules.

Markowski said water and sewer rate increases that were approved will likely not affect bills until late in the year and that the city is monitoring departmental expense timing; she said the RRA cash balance was about $163,000 with assignments for the Veil Gateway project and other reserves. The treasurer said she will provide further detail to the finance committee about ARPA projects and remaining obligations at the committee’s next meeting.