Fernley treasurer reports steady cash balances but notes budgeted one‑time deficit

City Treasurer Robert Carson briefed the Fernley City Council on the city’s first three months of fiscal activity, saying cash and investments are holding steady and that early‑year revenue timing makes trend analysis premature.

Carson said the general fund balance is reported at nearly $19 million, the transient lodging tax (TLT) fund at about $1.5 million, the water enterprise fund at approximately $53 million and the sewer enterprise fund at roughly $32.5 million. Interest earnings are producing well for the quarter (Carson cited about $150,000 in interest income year‑to‑date) and some revenue categories such as property taxes typically concentrate later in the year.

He reminded council that the adopted budget includes a $4 million one‑time deficit (approved for one‑time expenditures) and that the city’s early position is about $150,000 negative year‑to‑date — a small variance he said is not a concern at this stage. Carson walked council through departmental expenditures and capital project estimates, saying several capital purchases (for example four water vehicles) have posted and that larger RTC‑funded capital work (notably the Cedar Street reconstruction in the industrial park) will increase both revenues and expenditures later in the fiscal year.

Councilmembers asked whether emergency repairs (such as a recent water repair approved on consent) will appear in the quarterly capital reporting; Carson said those repairs do not always qualify as capital expenditures but staff can highlight them for council if desired. Carson said he will provide updated figures next quarter once year‑end closings for the prior fiscal year are complete.

The report drew positive comments from council, who noted the city is on budget and appreciated the treasurer’s work; no formal motion was required for the presentation.