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Hideout reports favorable third-quarter budget variances; town keeps reserve funds for roads and development
Summary
Hideout finance staff reported the town is essentially flat to budget for fiscal 2025 with favorable offsets from MIDAH and Class C road funds, higher permit revenue and reduced operating hires; water and sewer funds also showed favorable variances but staff noted higher external engineering costs.
Hideout finance staff briefed the Town Council on the third-quarter review of fiscal 2025 finances on April 10 and reported the town is largely on track with several favorable variances.
Katie, a town finance staff member, told the council general-fund operating income showed a favorable variance of about $269,000 but that the margin was largely driven by favorable results in the MIDAH municipal/development fund and Class C road fund. Staff had budgeted transfers of some $365,000 from those funds to cover operating costs; with stronger-than-expected building-permit revenue and interest income, the town now expects to need only about $3,200 of that transfer.
The council heard that road maintenance spending was lighter this year — roughly $87,000 in asphalt repair versus a larger program the prior year — leaving Class C road funds in better shape for future repairs. Staff said the town still budgets annually to draw on Class C funds for necessary pavement work and will continue planning for crack sealing, targeted patching and striping in the next fiscal cycle.
On utilities, the enterprise (water and sewer) fund reported roughly $323,000 favorable to date, driven by higher-than-expected building-permit activity and water-service revenues and savings from unfilled staff positions. That favorability was partially offset by increased spending on external engineering and capital work; town staff noted the Joint (JSSD) water and sewer district did not raise rates this year, helping the town’s position.
Councilmembers asked for follow-up information about long-term trends, how current fund balances might affect next year’s budget and the town’s use of MIDAH development and municipal funds for advisory work tied to future growth. Staff said they will provide additional projections and a detailed list of capital and forecasted work before the annual budget adoption cycle.
Councilmembers also discussed street-maintenance priorities and a plan to purchase in-house pothole-patching equipment to save long-term contractor costs. Public works staff said roughly $162,000 had already been spent on streets through March and about $40,000 remained in the current forecast for the fiscal year.
The town’s finance update will be included in the official quarterly financial report posted to the town website.
