Shelton — Interim Finance Director Terry presented the city’s August 2025 monthly financial report, saying revenues are outperforming budget estimates and the city’s unreserved general-fund balance has increased.

Terry reported that the city’s US Bank holdings totaled about $5,700,000 and that the Local Government Investment Pool account was “just short of $20,000,000,” with the LGIP interest rate at about 4.17 percent. The August report represents roughly 60 percent of the year, Terry said, and overall revenues were “approximately about a million over what we projected for the budget of 2025.”

Terry told council that year-to-date expenditures were running below budget by about $500,000 and that the estimated 2025 general-fund unreserved fund balance had increased to about $3,400,000 compared with an original budget assumption of $1.9 million. He also summarized that the citywide estimated fund balance across all funds is approaching $24,000,000, with draws on some funds tied to ongoing projects.

Council asked about vacancies and whether positions held open pending TBD (transportation benefit district) results would be filled; Terry said several utility and plant positions were being recruited. Council members thanked Terry and his staff for a recent clean audit finding from the state auditors.

Provenance: Terry’s August financial presentation and Q&A are recorded in the meeting transcript.