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Warrenton finance officer reports higher year-to-date revenues, cites grant timing lag
Summary
Finance Officer Megan Welder told the board that several revenue lines are above budget through July 2024, including $292,000 in water/sewer receipts, but noted a $513,000 year-to-date shortfall tied to timing on grant reimbursements that she expects to resolve in the coming months.
Finance Officer Megan Welder presented the city’s financials for the period ending July 2024 and described both stronger-than-expected revenue in several areas and timing-related shortfalls on grant receipts.
"We are over expected revenue by $292,000 year to date," Welder said, attributing that increase mainly to sewer connection fees and industrial sewer receipts. She also reported sales-tax receipts above budget (approximately $116,000 to the general fund, $35,000 to the transportation fund and $76,000 to the interchange fund), charges for services over by about $48,000 (driven by trash revenue and pool-related transactions) and licenses over by $62,000 largely from building permits.
Welder said the water and sewer group is over year to date but the city is "under year to date $513,000" overall because of timing on grant revenue; she told the board she expects that funding to "catch up in the next couple of months as it's trickling in." For expenses she cited underspending in areas tied to vacancies and seasonal timing, including the pool (approximately $81,000 under budget) and grounds and maintenance (about $30,000 under).
