Finance director reports steady revenues; board approves two transfers
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Summary
Finance staff reported November-to-date revenues and collections ahead of last year in key lines. The board approved two transfers: $65,000 within a bond authorization for a polymer system and $25,200 for mandated private-school transportation costs, both by voice vote.
Finance staff presented year-to-date revenue and collection figures and asked the board to approve two intra-budget transfers.
The finance director reported revenue for the five months ending Nov. 30 of $97.4 million (about 55.6% of the annual budget), tax collections of $89.8 million (3.5% over last year and 54.8% of budget), and interest on investments of about $1.1 million (roughly 6.2% over last year). Building permit receipts were running somewhat below last year.
Staff asked for two transfers: $65,000 to move for a polymer system within a bond authorization (a higher-than-expected quote required the reallocation) and $25,200 to cover state-mandated transportation costs for independent/private-school students. The board moved, seconded and approved both transfers by voice vote; the transcript records the approvals but does not include a roll-call tally of individual yes/no votes.
Finance staff said more detailed time-phased revenue expectations could be provided on request and noted some revenue lines are seasonal or one-time.