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Third-quarter forecast: Rocky Mount shows slight surplus at March close but utilities and stormwater face pressure
Summary
Finance staff reported third-quarter figures (through March) showing general fund revenues projected slightly higher than expenditures but identified deficit pressures in electric, gas and stormwater funds and signaled a need to address fund-balance policy during the upcoming budget.
City finance staff told the Rocky Mount City Council at a May work session that, through the third quarter (March), general fund revenues were projected to finish the fiscal year slightly above expenditures but that utilities and the stormwater fund remain under pressure and the city’s unassigned fund balance is below its adopted target.
Ken, the city’s finance presenter, said the city’s year‑to‑date picture had improved relative to the prior year and that the general fund was “still in the black” as of March, though staff cautioned some risks remain going into year end.
Key takeaways from the third-quarter forecast
- General fund: Staff reported general fund revenues of about $75.37 million versus expenditures of just over $75.0 million through March; revenue growth has outpaced expenditure growth in the nine‑month period.…
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