City finance director reports February net loss tied to riverfront capital transfer; year-to-date net income remains

The city’s finance presenter reported to the Mobile City Council that for the month ending Feb. 28, 2026, the city recorded a net loss of $3,400,000, driven largely by a transfer of funds to capital for the Mobile Riverfront project. The presenter said the city’s fund balance stood at $184,200,000 and the general fund operating balance at $119,700,000.

Monthly revenue details cited included $20,900,000 in sales tax for the month and other taxes totaling $5,800,000. The presenter noted total monthly revenues of $32,600,000 and total expenditures of $29,300,000; year-to-date the city had net income of nearly $44,000,000. Departmental expense rates and percentage-of-target comparisons were provided for mayor’s office, city council, public safety, parks and recreation, public services and Build Mobile.

Why it matters: The February loss is an accounting result tied to capital transfers, not necessarily recurring operational shortfall. Fund-balance and year-to-date net income figures give the council a snapshot of fiscal capacity ahead of future budget choices.

What’s next: Council members were invited to ask questions and no formal motion was attached to the report; more detailed budget items will appear on later agendas.