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Mayor reports February finances are stable and projects year‑end surplus
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Summary
The mayor presented February financial statements, saying monthly receipts were up, sales-tax figures were within expected ranges, and projected that the city could finish the year around $500,000 'to the black' with a gross projection he described as about $13.05.
The Mayor (speaker 4) told council that the February financials “looked pretty good,” citing gains in monthly receipts and sales tax that put the city on a stronger trend than earlier budget estimates.
During his report the Mayor referenced specific figures for February and an annualized gross projection he described as roughly $13.05. He also said the treasurer (Jeff) had projected the city could finish the year about $500,000 “to the black.” The Mayor presented that context as part of the rationale for routine cash-management actions later on the agenda, such as placing funds into a certificate of deposit.
Council members asked questions about specific reserve balances and whether under‑spent departmental accounts could be used instead of drawing unallocated reserves. The Mayor said he preferred to monitor the accounts and revisit transfers after March financials are available.
No formal vote was attached to the Mayor’s report itself; it served as background for the subsequent motions on investment and the proposed transfer.
