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Quarterly finance update: Moab revenues roughly flat; transfers to CIP and recreation planned
Summary
City finance staff told the council revenues are near last year’s levels and showed underspending in several departments; the city will transfer property‑tax proceeds to capital projects and parks/recreation funds and complete an audit in the fall.
City finance staff presented an updated quarterly finance report on Aug. 26 showing overall revenue roughly flat compared with the prior year and expenditures under budget across several departments.
Staff provided an updated revenue figure for the tax portion of revenues of about $17.21 million, noting that amount includes property tax and represents roughly a 1.8–2% increase over the amount budgeted. Excluding property tax, tax revenues were essentially flat compared with the prior year. Staff cautioned the figures remain unofficial until the external audit is completed but said the numbers are close to final.
Key points from the presentation: • Many general‑fund departments came in under budget for the fiscal year, with administrative and community development departments spending less than projected; public safety and public works also finished under budget. • The biggest planned transfers are from the general fund to the capital projects fund and to the recreation fund; combined transfers are approximately $5.35 million, with about $3.22 million budgeted for capital projects (property‑tax supported) and the remainder supporting recreation operations. • Because departments underspent, the planned carryforward will be larger than expected and the net transfer to balance the budget will be about $1.15 million less than previously projected.
Council members asked detailed questions about particular line items, including streetlight maintenance, building upgrades funded by insurance proceeds, and salary buyouts and holiday pay leading to higher end‑of‑year personnel payouts in some departments. Staff said some capital expenses (for example, building roof repairs paid from insurance proceeds) were delayed and will be reflected in the current fiscal year, and that enterprise funds pay the general fund for administrative overhead through transfers in.
Staff said the audit has begun and the final audited numbers will be presented in the fall; another quarter report will come in December. Council members flagged upcoming events and seasonal visitation as variables that will affect revenues in the months ahead.
The report did not propose new appropriations that night; staff said they will schedule any required transfers and present final audited totals after the audit is complete.
