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Finance committee reviews January revenue, expense variances and capital spending
Summary
The Sunbury finance committee reviewed January revenue and expense reports: real estate property tax budgeted at $544,000, a $41,183 transfer from the former water utility, $154,000 in road impact fees from D.R. Horton, and $766,508 spent so far on 2025 street improvements; staff explained payroll timing and one-time expenses behind several yellow-flag variances.
Finance staff walked the committee through January revenue and expense reports and explanations for several yellow-flag items at the Feb. 18 meeting.
On revenues, staff noted the city budgeted $544,000 for real estate property tax receipts but had reduced expected collections by about one-third as part of a policy to shift reliance away from property tax. Staff said a transfer of $41,183 from the now-defunct…
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