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Northampton Finance Director: Q1 shows revenues and expenses largely on track; cannabis receipts down, interest earnings ahead
Summary
Finance Director Charlene Nardi presented the FY26 first‑quarter report Nov. 6, saying overall revenues and expenditures are tracking to plan. The report flagged a sizeable drop in cannabis receipts compared with the prior year and unusually high posted interest income after September entries.
Finance Director Charlene Nardi told the City Council that through the first quarter—25% of the fiscal year—most general fund revenue and expense lines are tracking close to projections. Nardi noted that motor‑vehicle excise timing, Smith Vocational tuition commitments, and other accounting commitments can make quarterly percentages appear uneven.
Key revenue points: hotel/motel and meals receipts were up year‑over‑year; cannabis revenue for the quarter is down roughly 49% compared with the same quarter last year; and interest on investments rose after the September posting and now stands at $696,867. Nardi said the higher interest posting helps the city meet an overall 25% collection target for early fiscal‑year reporting.
Enterprise funds are generally on track: sewer and water revenue are normal given Coca‑Cola’s reduced operations (noted as operating at ~40% of peak usage through end of calendar 2026), stormwater and solid‑waste trends were described as expected, and sludge disposal activity was high this quarter.
On the expense side, Nardi said many lines are on target; higher‑than‑25% percentages often reflect one‑time payments such as software licenses or dues. When capital projects and contributory retirement payments are removed, general fund operating expenses were about 22.9% of budget at quarter‑end, with payroll adjustments expected to move that closer to the 24% range.
