Middleton presents first-quarter FY25 budget snapshots; property tax payment expected to restore balances

At the Middleton City Council meeting on Feb. 19, 2025, a city staff member identified as Miss Miles presented the city's first-quarter financial report for fiscal year 2025, which covers the period ending Dec. 31, 2024 (25% of the budget year).

Miles reported that the general fund had received $839,942 in revenue and incurred $1,161,811 in expenses, producing a negative variance of $321,869 at the quarter. The transportation fund had received $385,104 in revenue and incurred $395,416 in expenses, a negative $5,412. The library reported $3,478 in revenue and $71,703 in expenses, a deficit of $68,225. Solid waste/garbage showed revenue of $247,371 and expenses of $224,774, a positive $22,006. Stormwater revenue was $21,057 with expenses of $13,177, a positive $7,880.

Miles said the wastewater fund had received $1,800,000 and reported expenses of $440,821, yielding a positive position of roughly $1,300,000. She also said the city received its property tax distribution on Jan. 24, 2025, in the amount of $1,800,000, which brought previously negative fund balances into a positive position; she characterized this timing as typical for municipalities that receive major property tax revenue once a year.

Miles told the council that through January the city had issued 91 residential building permits and one commercial permit. Council members asked for additional detail about the single commercial permit; Miles said she would follow up with the specific project information.

Councilors asked procedural questions about property tax timing and the semiannual remittance schedule; Miles reiterated that the large distribution is seasonal and that smaller collections continue over the remainder of the year.

The presentation was informational; no budget amendments or votes were taken at the meeting on the basis of this report.