City finance staff reports healthy reserves and on‑track revenues through March; capital balances remain for projects

Murphy’s finance staff presented the city’s second-quarter financial report for the period ending March 31 at the May 6 City Council meeting, reporting a combined fund summary of roughly $43.1 million and saying overall financial condition appears healthy.

The presenter said general fund cash openings were about $11 million at the start of the fiscal year and that actual cash on hand was trending toward a projected $16 million. The report showed sales-tax receipts at roughly the 50 percent-of-year mark and slightly ahead of collections from the same time last year. Staff said variances against budget were being monitored and that some timing and one-time revenue recognition explain differences in permit and revenue lines.

On capital projects, staff reported approximately $12.3 million in remaining budget balance for active capital projects and cited $4.2 million spent to date; staff also described spending by revenue source and said a bid package for capital flat work (sidewalks and street panels) was being prepared by public works staff.

Staff noted a new non-departmental attrition line that centralizes salary savings and clarified how that accounting change shifted savings into departmental line items for reporting clarity. The presentation concluded with an offer to bring additional detail on any flagged variances at council’s request.

No council action was requested at the presentation; staff said they would continue quarterly reporting and follow up on any specific questions.