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Shelton council adopts supplemental budget amendment; finance director reports healthy fund balances
Summary
Council adopted Ordinance 2037-1025 amending the 2025 annual budget. Finance director reported LGIP funds near $21 million, a US Bank balance just over $5 million and an estimated general-fund ending balance around $7.56 million for 2025.
The Shelton City Council unanimously adopted Ordinance No. 2037-1025 on Dec. 16, a supplemental amendment to the city’s 2025 budget to ensure adequate expenditure authority across funds.
Finance Director Terry Schnitzer presented the monthly financial report in advance of the ordinance vote, reporting an LGIP (Local Government Investment Pool) balance of about $21,000,000 and a US Bank balance “just over $5,000,000.” Schnitzer said a $500,000 bond maturity was reinvested into LGIP and noted a $750,000 debt payment went out Dec. 1. He reported a favorable variance of roughly $2,200,000 and projected a general-fund ending balance for 2025 of about $7,560,000.
“Both of the revenues and the expenditures are in the favorable variance, showing 2,200,000.0,” Schnitzer said. He also noted citywide vacancies (approximately 8.5 FTE) as a contributor to the improved ending fund balance.
Council members moved and seconded adoption of Ordinance 2037-1025 as presented; the mayor called for the voice vote and the motion carried.
