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Finance committee: revenues ahead of schedule; roads and equipment spending highlighted
Summary
Finance staff reported Woodland Hills has collected a larger share of revenues than expected so far this fiscal year, with lower-than-expected road spending and several capital purchases and potential budget shifts discussed, including a recently acquired service truck and a possible reallocation for a snow-plow attachment.
Woodland Hills finance staff summarized the city’s finances and flagged a handful of capital decisions the committee will consider as it prepares next year’s budget.
Chris (finance staff member) told the committee that “58.33% of the year has passed. We’ve collected about 68% of our revenues,” and that, overall, expenditures remained lower than forecast because road work had not yet been performed. He said, “As far as expenses, we’re pretty much down the line.”
The report outlined several specific items. Roads show only 21% spending to date, while parks are “right on track,” and the road program budget remains the largest line item at roughly $1.3 million. Committee members discussed Wilford Drive, which was originally estimated near $500,000 but “ended up costing us $319,000,” with some retainage yet to be released and approximately $303,000 posted so far. Chris said the contractor spent about $10,000 less than the original bid.
Committee members also reviewed recent equipment purchases. The city acquired a service truck and is now outfitting it; staff expect it to be operational within approximately three weeks. The mayor had authorized the purchase to secure a truck already equipped with needed gear, Chris said. Committee discussion included using salt budget or capital funds to buy a replacement plow blade (about $9,000) and reallocating salt funds since salt spending this year was lower than some recent winters. Chris said the city had spent about $13,000 on salt recently and had roughly $19,000 in the salt line earlier in the season.
Fiber installation and related fees were discussed. Chris said the city spent roughly $9,500 and brought in about $12,000 in service fees when new homes connected; earlier financing options for residents had been closed out and liens were released when loans were paid in full.
Committee members were told the mayor can move funds within certain budget categories (accounts beginning with 44) and that he prefers to notify the council before doing so. Chris said staff will prepare a fuller budget package for the finance committee to review ahead of the council’s budget process.
The meeting opened with a motion to approve the minutes, which was seconded and carried by voice vote. The committee later voted to adjourn.
Looking ahead, staff and council members discussed scheduling: the committee agreed to meet March 5 at 7:00 a.m. to finalize benefit decisions and other time-sensitive items ahead of open enrollment.
