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May 2025 financials: building permit revenue up sharply; System Development Fees exceed budget
Summary
Finance Director Butch Watson reported through May 31 that General Fund revenues are 98.72% collected and building permit revenue is 171.22% of budget; Water & Sewer System Development Fees are 252.42% of budget.
Finance Director Butch Watson presented the Town's fiscal highlights through May 31, 2025, at the June 9 work session.
Watson reported General Fund revenues at $14,642,004.63, or 98.72% of the $14,832,214 budget, with expenditures at 88.57% expended year to date. Building permit revenue was notably high at $556,471.40, or 171.22% of budget. Sales tax receipts (nine months of collections) were reported at $2,818,852.38, or 76.69% of the budgeted $3,675,450.
In the Water & Sewer Fund, Watson reported revenues of $4,962,774.75 (89.46% of the $5,547,305 budget) and expenditures at 74.08% of budget. He highlighted System Development Fees at $774,921.56, or 252.42% of budget, and Water & Sewer Tap Revenue at 192.51% of budget.
Watson provided the consolidated totals (General & Water/Sewer) and noted an overall YTD revenue of $19,604,779.38 (96.20% of the combined $20,379,519 budget) and YTD expenditures at 84.63% of budget. The board asked for additional build-out numbers for Collinswood; Planning Director Pam Graham said she would provide that information to the board after the meeting.
The work session did not include board action on budget amendments; the report was an informational update to the board.
