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Treasurer reports stronger-than-expected income-tax receipts; council debates check-signing changes
Summary
Treasurer John Conlow reported estimated FY'25 income-tax receipts of about $1.8M and reserves of $5.3M; he proposed streamlining check signing by designating the village manager as primary signer, a proposal that prompted debate and was left for further committee review.
Treasurer John Conlow told the council that Maryland controller estimates indicate income tax revenue for the current year will be about $1.8 million, above the village budgeted $1.5 million, and projected at about $1.57 million in 2027. Conlow said village reserves totaled about $5.3 million as of November.
Conlow proposed streamlining the check-signing process by designating the village manager as the primary check signer, with the treasurer reviewing and cosigning where appropriate, arguing that the existing procedure requiring two elected officials to sign checks is cumbersome. The finance committee discussed the item and will continue review. Council Member Mueller urged adoption sooner rather than later and moved to accept the treasurer’s recommendation, but the chair indicated the committee would continue deliberation and no formal council vote was recorded on changing the process at this meeting.
Conlow said the village remains in good financial shape despite economic uncertainty and recommended continuing to monitor revenue trends and reserves.
