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Trussville reports stronger first-quarter finances; cash balance jumps to $12.6 million
Summary
Finance Director Joseph Calvert told the council that net operating income rose to $3.5M and the city's cash balance increased to $12.6M as of Jan. 27, citing higher revenues and lower spending compared with the prior first quarter.
Finance Director Joseph Calvert summarized Trussville's financial position through December during the Jan. 27 council meeting, reporting materially stronger results compared with the prior first quarter.
Calvert said current net operating income was $3.5 million compared with $1.075 million in the comparable FY2025 period. Sales tax receipts totaled $7.77 million (up from $7.54 million), and lodging tax collections were $427,600 versus $197,000; the minutes note the prior council had raised lodging tax in October 2024 effective Jan. 1, 2025. Credit-card spending across city departments fell by 43%, and capital outlay spending for the quarter dropped to $18,688 from $902,479. Calvert reported the city cash balance as $7 million in December and $12.6 million as of Jan. 27, attributing the increase primarily to property tax and business license payments.
No agenda motion or vote was required for the financial report; the presentation was informational and prompted brief committee updates and mayoral remarks.
