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La Plata staff: revenues tracking well, no midyear amendments recommended
Summary
Town treasurer reported general fund revenues at about 70% and operating expenditures under 50% through Dec. 31; staff said property taxes and investment earnings are strong and projected FY26 to close balanced to surplus, recommending no midyear budget amendments.
Town Treasurer Karina Larson presented a high-level midyear picture of La Plata’s FY26 budget at the Feb. 10 council meeting, reporting that roughly 70% of general fund operating revenues had been collected through Dec. 31 while operating expenditures were tracking below 50%.
Larson said property tax collections are strong, income tax collections were on pace and the state projects an additional $420,000 above budget for the remainder of the year. Investment earnings have outperformed expectations; capital spending is expected to be back-loaded in the second half of the fiscal year. Based on those trends, staff projected the town would close FY26 in a balanced-to-surplus position and recommended no budget amendments at midyear.
Councilmembers pressed for clarification on reappropriations, which Larson described as moving budgeted amounts across spending categories rather than increasing total authorized spending. Members also asked which departments might require reappropriation (playground and facilities were cited), how revenue timing affects ratios, and whether presentation by function rather than department would improve public understanding.
Mayor James said the budget materials will be available for public review; staff will incorporate council questions into the budget work that precedes the FY27 adoption process.
