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Town finance director reports FY25 second-quarter results; council presses for clearer line-item reconciliations
Summary
Argyle finance staff reported fiscal year 2025 second-quarter results showing revenues ahead of benchmarks and sales tax growth; council members raised multiple questions about presentation formatting, COVID-fund reallocation and apparent mismatches between year-to-date totals and remaining budget lines.
Marissa Barrett, presenting the town's fiscal-year 2025 second-quarter financial report, told the council the general fund revenues are tracking ahead of the midyear benchmark and that sales tax receipts have exceeded original projections.
"We have collected about $5,660,000 of our anticipated revenues and our expenditures are only just under $3,000,000," Barrett said, noting the town has collected the bulk of its ad valorem taxes at this point in the fiscal year. She also reported special-revenue funds had collected approximately 61% of their budgeted revenue and expended about 25.7% to date. Barrett said some MDD (municipal…
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