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Aberdeen reports strong quarterly revenue gains; library and capital reimbursements noted
Summary
Finance staff reported year‑to‑date general fund receipts of $6.224 million and expenditures of $3.82 million, producing a net positive variance of about $2.404 million. Staff also reported rising permit revenues and an expected DOT reimbursement of roughly $400,000 for a park entrance project.
Town finance staff presented the quarterly financial report at the Nov. 12 work session and highlighted several positive trends and pending reimbursements.
Through September, staff reported $6,224,000 in general fund receipts and $3,820,000 in expenditures—yielding a net favorable variance of approximately $2,404,000. Property tax collections were reported at 71.11% as of September and updated to 74.65% during the meeting; staff said another county deposit was expected before month‑end.
Permit and development fee collections were notably higher year‑to‑date: building permit revenue rose sharply (staff provided a month‑by‑month percent increase), and system development fees reached $222,000 of a $307,000 annual budget. Staff also said they expect a DOT reimbursement of about $400,000 tied to SportsPlex entrance improvements; that reimbursement will be recorded when it is remitted to the town.
Staff flagged upcoming budget amendments for library spending (a roughly $500,000 item discussed) and reminded the board that system development fees are restricted to water and sewer projects and must be budgeted to qualify for use. Commissioners asked clarifying questions; staff said they will update budget numbers and return with amendments as deposits clear and reimbursements arrive.
