Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Fairview reports revenues above budget through August; utility collections near budget targets
Summary
Finance staff reported general fund revenues of $11,418,032 through August and general fund expenditures of $10,707,401; utility fund revenues were $9,318,014 and sales tax collections rose to $4,293,518 (a 5.4% increase).
Finance director Steven presented the town’s fiscal update through August, reporting that general fund revenues totaled $11,418,032 — exceeding the adopted budget — while general fund expenditures were $10,707,401 (about 95% of budget). He said overall the town is roughly where it should be as it approaches the end of the fiscal year.
Steven reported utility fund revenue collections of $9,318,014 (about 99% of the revenue budget), with water revenue up $798,713 and sewer revenue up $540,935 compared with the prior fiscal year. He said sales tax collections year‑to‑date were $4,293,518, a $220,257 (5.4%) increase over the prior year. Steven told the council the town started its audit in July and the auditor will return in November with a presentation planned for March.
Council asked several clarifying questions about account types and active utility accounts; Steven noted the town has seen increased water usage and slight variance by account type but that year‑to‑date collections exceeded adopted estimates. No changes to fiscal policy were proposed during the meeting.
