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Indian Trail finance review: revenues near budget, $2 million transfer to public works capital reserve
Summary
Finance staff told the council that fiscal‑year‑to‑date revenues were near budget and many categories are on track; council was told a final allocation of $2,000,000 to the public works capital reserve will draw down fund balance for FY25.
Alicia Massey, speaking for town finance staff, presented an end‑of‑year financial review showing the town’s revenues running close to budget and departments spending cautiously, the council was told.
Massey said ad valorem collections for the fiscal year were 99.7% of budgeted expectations (the town budgets conservatively at 96%). Overall town revenues were at about 98% of budget as of the third quarter reporting and the finance team expects some late receipts to change that figure through the official close on September 30. Massey said utility and franchise tax lines currently…
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