Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Oswego reports first-quarter surpluses; $20 million bond sale delayed to July for Lake Michigan connection
Summary
Finance Director Andrea Lambert told the board the village’s general and water/sewer operating funds showed first-quarter surpluses, with sales tax and water revenue ahead of budget; a planned $20,000,000 bond sale to fund the Lake Michigan connection was pushed to July.
Finance Director Andrea Lambert presented the Village of Oswego’s first-quarter (three-month) financial results, reporting overall positive trends in both the general operating fund and the water and sewer fund.
Lambert said general fund revenues were just under $7,500,000 with expenditures around $5,400,000, leaving an ending surplus the presentation described as about $2,000,000. The board was reminded that the annual budget anticipates a $575,000 deficit driven by a one-time transfer from the general fund to the capital public-works facility; excluding that transfer, the year-to-date position shows a small…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat