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Middleton treasurer reports first‑quarter shortfalls tied to revenue timing; corrects a budget line error
Summary
Treasurer Wendy told council the city’s general fund showed a timing‑driven shortfall (revenues $1,029,823 vs. expenditures $1,432,777) but noted a $1.9M county payment arrived in January; she disclosed a budgeting error on the attorney line that she said will not require a budget amendment.
Treasurer Wendy presented the city’s first‑quarter financial report for Oct. 1–Dec. 31 and explained much of the negative appearance of the general fund is due to the timing of revenue receipts.
Wendy said the city received $1,900,000 from the county in January after the quarter closed and that the general fund had recorded $1,029,823 in revenue against $1,432,777 in expenditures for the quarter. She noted several enterprise funds also lag early receipts; for example, the library had received roughly $4,946 and spent $67,278 by quarter end because property tax distributions come later in the fiscal cycle.
Wendy disclosed she found a mistake in the adopted budget: an attorney line had been recorded as $10,000 instead of $100,000. She said the error can be covered by existing capital allocations (including an anticipated $500,000 land‑purchase line) and that a formal budget amendment should not be necessary. "I found a mistake," she told the council, describing how staff identified and resolved the discrepancy.
Council asked no substantive follow‑up questions and thanked Wendy for the report.
