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Schofield holds amended FY2025 budget hearing; audit cost and unspent road funds discussed
Summary
At a June 9 Schofield town hearing, officials reviewed an amended fiscal year 2025 budget reconciling estimates to actuals, discussed a state-triggered audit that cost about $14,000, noted unspent Class C Road program funds, and considered placing town funds in interest-bearing accounts. The hearing was closed by unanimous motion.
Schofield town officials met on June 9, 2025, to hold a hearing on the amended fiscal year 2025 budget and discussed reconciliation of estimated to actual revenues and expenditures, a state-triggered audit that cost about $14,000, and options for investing town funds. The hearing opened at 6:32 p.m. and was closed by unanimous motion.
The hearing focused on adjusting line-item estimates to actual 2024 results. Meeting materials and speakers explained that the amendment updates the budget to reflect what “actually came into the town” during the year rather than earlier estimates. The record shows an unusually small Parks and Public Property Rental entry of $29.50; the transcript states that amount reflected a rental of the town’s fire truck by Cody Ecker.
Why it matters: the town’s reported revenues in 2024 exceeded $1 million, which the meeting record says triggered a state-mandated audit. Officials reported the audit cost the town about $14,000; the transcript records officials saying auditors were engaged through more than one firm to satisfy the state requirement. The audit found no reportable problems in the discussion recorded at the hearing.
Officials also noted that a General Fund line tied to the Class C Road program was not spent because planned road work was delayed while the roads needed to subside. That unspent amount was flagged for follow-up. Attendees discussed whether to place some town reserves into interest-bearing instruments such as certificates of deposit (CDs). One speaker observed that modest yields could produce more interest than the town was currently earning; the transcript includes an example comment calculating a small interest return on $36,000 and a broader suggestion that staggered CD terms (six to 18 months) could be used while keeping some money available for emergencies.
The meeting record shows staff or officials volunteered to investigate investment options and legal limits for town funds. Participants also discussed the town’s recent revenues tied to metering and well projects, which contributed to the higher total triggering the audit; the transcript attributes the increased receipts to those projects but does not specify exact program names or grant sources.
After reviewing the amended figures, a motion to close the fiscal year 2025 amended budget hearing was made and seconded; the motion passed with all present voting aye. The transcript records multiple “Aye” responses and the meeting proceeding to the next scheduled hearing.
The hearing produced no formal adoption vote on the amended budget during this session; it served to review the line-item adjustments, note the audit outcome and cost, and direct staff to explore investment options and confirm legal restrictions before placing funds in longer-term instruments.
