Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Controller reports steady collections, estimated $200,000 snow costs and $2.2M grand-list growth
Summary
The city controller told the board January tax collections are in line with last year, building permits are ahead of budget, conveyance tax receipts are strong, and the department estimates about $200,000 in additional snow-removal costs; the assessor reported approximately $2.2 million in grand-list growth.
The city controller briefed the joint meeting on the monthly revenue and expense report, saying January tax collections were consistent with last year and that a few deposits that arrived after the report’s cutoff will appear on the next statement.
Highlights from the controller’s presentation included building permit fees at approximately 89% of budget (compared with 82% a year earlier) and conveyance-tax receipts at roughly 134% after several large payments. The controller noted investment income for December had not yet been posted and placed current investment earnings at about 56% relative to budgeted expectations.
On expenditures, the controller identified winter snow-removal as the principal pressure, reporting the director of public works provided an estimate of about $200,000 in additional snow costs to the Board of Finance; the speaker emphasized that that estimate could change as weather conditions evolve.
The controller also noted that the assessor filed a grand list showing approximately $2,200,000 in growth, which the speaker characterized as better news than the prior year and positive for next year’s budget process. The capital improvements committee schedule and upcoming budget hearings (beginning Feb. 24 for parks and library) were also described.
Council members had no further questions on the report during the meeting; the controller’s briefing was accepted by the body.
