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Treasurer: September receipts close budget gap; audit work ongoing
Summary
Sykesville Treasurer Craig reported September revenues narrowed the town's shortfall from about $343,000 to about $60,000, driven primarily by $525,000 in real-estate tax receipts and a roughly $40,000 income tax distribution; the audit remains in progress.
Treasurer Craig told the Sykesville Mayor and Town Council that September’s financials improved the town’s position after a larger August shortfall.
Craig said the town’s deficit fell from roughly $343,000 in August to about $60,000 in September, largely because $525,000 in real-estate tax receipts arrived and about $40,000 in income tax distribution was received. He described September as a comparatively quiet month for expenditures and noted two checks of interest in the register: one for roughly $29,000 for emergency storm repair and another for legal fees of roughly $25,000. Craig said the formal audit work is in progress and that he expects the audit report in the coming weeks.
Council members asked whether items over budget for the first quarter would require adjustments; Craig said some line items will be revised but that overall revenues were favorable so far. He also summarized planned near-term receipts and cautioned that timing of larger revenue inflows (for example, November real-estate tax receipts) affects monthly variance.
Craig encouraged council members to review the full check register and financial packet on the town website for details.
