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Graham approves budget rollover ordinance and accepts quarterly financial reports amid sales-tax slump
Summary
Council adopted Ordinance 1184 to roll forward unspent prior-year appropriations and approved quarterly investment and financial reports; staff warned August sales-tax collections were down about 1.5% year over year and flagged a potential need to trim roughly $150,000 from the general-fund if the trend continues.
The Graham City Council approved Ordinance No. 1184, a budget rollover ordinance that moves unspent appropriations from prior fiscal years into the FY24–25 adopted budget and corrects administrative errors. The ordinance moves about $407,290 in the general fund (with $353,000 primarily for the paving program), rolls forward park and water project funds (including a $60,000 carryover for Fireman's Park camera), and adjusts several other funds. Council approved the ordinance on first and final reading.
Council also accepted the quarterly investment report for 07/01/2024–09/30/2024 and the financial reports for the period ending 09/30/2024. Staff reported total cash and investments of about $14.8 million, a FY24 general-fund positive balance of about $1.1 million, and fund-level details for water, sewer, airport, and capital funds; staff noted PLUG-related sewer capital expenditures remain active and estimated roughly $3.0 million still required to finish that pump-station work (anticipated completion May 2025).
During the financial presentation staff expressed concern about a downward trend in sales-tax collections: August 2024 collections were $241,000, down about 1.5% from the prior year and slightly below the month’s forecast. Staff warned that if the trend persists through December the council will need to decide whether to cut expenses, reduce departmental budgets, or use reserves and estimated a potential general-fund trimming on the order of $150,000.
Council approved the investment and financial reports by motion. Staff indicated more detailed financial discussion and potential budget adjustments will be scheduled if the sales-tax decline continues.
