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City finance director: FY26 first‑quarter results tracking close to budget
Summary
Finance director Jen Bell told council that FY26 first‑quarter revenues and expenditures are largely on track; debt service is front‑loaded (about $1.5 million), school federal reimbursements run later in the year, and a roughly $62,000 utility undercharge will appear in Q2.
Finance director Jen Bell presented the city’s fiscal year 2026 first‑quarter report and described what is and is not yet reflected in the numbers.
Bell told council general fund revenues are timing‑sensitive: property tax receipts (due Dec. 5) and county revenue‑sharing payments typically arrive later, so Q1 comparisons can understate year‑end position. Non‑departmental spending includes debt service, and Bell said the city pays about $1.5 million of debt service in the first quarter. She also noted capital reimbursements tied to bond proceeds for city hall renovations are reflected in the report.
On the school fund, Bell said federal categorical revenue is at about 4% for FY26 as many federal grants are reimbursement‑based and will be recorded after expenditures occur. The stormwater fund currently shows expected revenue but low expenses because projects have not started. Utility funds are meeting revenue targets, though administration is running at 48% year‑to‑date and staff are reviewing potential miscoding of software purchases that may belong in capital projects.
Council asked whether a recently discussed backhoe purchase should be split between funds; Bell proposed an interfund agreement and said if frozen general‑fund monies cannot be released, a repayment arrangement would be recommended. Bell also confirmed a prior undercharge of about $62,000 will appear in the second quarter report. When asked about delivery delays, Bell said equipment lead times have improved but are still variable; a police vehicle ordered about six months ago has arrived.
Bell invited questions and staff follow‑up; council took no immediate fiscal actions beyond receiving the report.
