Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance committee reports GAAP statements, growing income tax and $2M in impact fees forecast
Summary
Council finance committee reviewed 2024 GAAP financial statements, noted ongoing audit schedule for 2024–25 in 2026, and reported roughly $2 million in impact fees collected so far with a $2.1 million forecast for next year.
Councilmember Govey reported to the Sunbury City Council on Oct. 15 that the finance committee reviewed the 2024 GAAP financial statements and received an executive overview from a staff presenter. The statements are unaudited and will be audited in 2026; both the 2024 and 2025 results will be audited that year, Govey said.
Govey told the council that the city's income tax receipts continue to grow. He also reported that the city has received a little over $2,000,000 in impact fees so far and that a forecast for the next year is $2,100,000.
The committee discussed the 2026 budget draft, capital expense planning and routine year-to-date comparisons, reconciliations and the check register. No formal budget adoption occurred at the Oct. 15 meeting.
