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Council reviews August finances, hears large SRF invoice reports and accepts payments for water/sewer work
Summary
Finance director presented monthly fund reports showing timing-driven deficits in capital funds and bond reclassification; council approved two SRF-related resolutions to pay contractor invoices for sewer and drinking-water projects.
City finance director Greg presented the monthly financial reports and explained key month-to-month movements, including timing-related items and a bond reclassification for water-sewer projects. The council then approved resolutions to pay contractor invoices tied to the city’s CWSRF and DWSRF projects.
Greg told the council the general fund showed a $104,000 year-to-date positive balance as of Aug. 31, 2025, and highlighted the City/Village/Township Revenue Sharing (CVTRS) receipts as the main August revenue source. He explained that in the sewer fund a negative $2,500,000 item represented CWSRF bond proceeds that had been correctly reclassified from revenue to a liability on the balance sheet; he emphasized this is a debt…
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