Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance director briefs TAR board: $10.5M revenues to date, $5.8M initial carry-forward encumbrances
Summary
Katie Mays presented the September financial report and the FY25–26 carry forward review, explaining why the authority begins the fiscal year with multi-million-dollar encumbrances and how those encumbrances will be spent down. She highlighted key encumbrance categories including landfill dumping fees and refuse collection charges.
Katie Mays presented the authority's September financial report and explained the FY 25–26 carry-forward encumbrances.
Mays told the board the operating fund had roughly $10.5 million in revenues through September, slightly ahead of the year's estimate. She reported $8.2 million in expenses and $24.1 million in encumbrances and commitments, noting that a large portion of those encumbrances are typical carry-forward items from prior purchase orders and contracts. As of July the initial carry-forward total was about $5.8 million; by the end of September that carry-forward amount had been reduced to about $4.9 million as items were spent down.
Mays broke the carry-forward encumbrances into categories: about $2.7 million tied to landfill dumping fees, roughly $930,000 for refuse collection charges, $416,000 in recycling processing fees, and smaller amounts for security and legal services. Capital outlay carry-forward included two vehicles (dump truck and bucket truck) and carts.
Mays explained the carry-forward accounting process and said the large encumbrances at the start of the fiscal year are normal because prior-year commitments remain encumbered until invoices are paid or the purchase orders are completed. She also noted the October rate increase will begin to show in financials presented in December.
