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Treasurer reports general fund at healthy levels; revenues and expenditures on track
Summary
City Treasurer Michelle Ferguson told commissioners the general fund balance is approximately 20% (policy target 15%), tax collections are near 90% of levied amounts and year‑to‑date revenues are about 43% of budget with expenditures at roughly 35%; staff said projects may carry into next year but no surprises are expected.
City Treasurer Michelle Ferguson presented the city’s general fund status during the study session.
Ferguson said the fund balance is around 20 percent of policy (the policy target is 15 percent). She reported tax collections at about 90 percent of levied amounts as of November 30. Revenues for the fiscal year were described in the packet as approximately $5,000,004.55 against a budgeted $12,000,007.27 (about 43% collected), and expenditures were roughly 35% of the annual budget.
Ferguson noted typical timing for income taxes and state revenue sharing and said the city expects a one‑time state payment related to marijuana excise tax in the spring. Commissioners asked about the city’s debt load; Ferguson said general‑fund debt appears modest (less than about $160,000 cited in the meeting) and most debt payments have been made for the year. She and commissioners agreed the city is ‘‘right on track’’ for the November checkpoint, though capital projects could carry costs into the following year.
Next steps: Treasurer’s office will provide additional materials and a quarterly investment report at future meetings; no budget amendments were made at this session.
