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Mobile City reports $11.1M March loss, officials point to budgeted transfers; year-to-date net income $32.8M
Summary
City finance staff told the Mobile City Council that March showed a net loss of $11.1 million — largely driven by budgeted transfers including a $6.7 million transfer to the police and fire pension — while year-to-date net income stood at $32.8 million. Council members pressed for monthly budget columns and greater clarity on timing for transit-related revenue.
The Mobile City Council heard a detailed finance report for the month ending March 31 that showed a net loss of $11,100,000 for March but a year-to-date net income of $32,800,000.
The finance presenter said total fund balance stood at $173,200,000 and the general fund operating balance at $108,700,000. Sales tax receipts for March were reported at $21,200,000, up from $19,500,000 in the same month last year. The presenter noted transfers — including a $6,700,000 budgeted transfer to the police and fire pension — accounted for most of the monthly loss.
Council members focused questions on presentation format and timing. One member asked for a monthly budget column to be added so the council could see the budgeted amount on a month-to-month basis rather than only annual totals. The finance presenter confirmed that the $6.7 million transfer is executed annually (in March) and said revenue timing explains part of the monthly variation.
Other figures in the presentation: total revenues for March, as reported, were $26,700,000 compared with $24,300,000 last year; business-license receipts for the month were cited at $2,500,000 (versus $3,000,000 last year), and the report listed a reserve fund of $64,000,000, described as roughly 16.66% of budgeted revenues.
Council members asked whether sales-tax trends would continue; the presenter characterized revenue expectations for the year as “pretty flat,” noting only modest increases were likely. Members and staff agreed to continue refining the report format and to provide documentation about ARP allocations and performance-contract evaluations at a follow-up committee meeting.
The council did not take any formal budgetary action at the meeting; the session concluded with members agreeing to continue oversight and to add requested monthly budget detail in future reports.
