Fernley treasurer reports healthy cash position; general fund projected near $17 million

City Treasurer Robert Carson presented the unaudited quarterly financial report for the period ending June 30, 2025, saying the city had about $105 million in cash and investments and that the general fund is on track to finish the year with an ending fund balance near $17 million after an estimated $2 million positive change.

Carson said operating revenues and investment returns were stronger than budgeted in some areas and noted $4 million that had been budgeted for the Community Response and Resource Center (CRC) was not used during the year, which improved the general fund position. He described salaries at about 96% of budget and operating expenditures coming in roughly $4 million below what had been budgeted, while also noting there are still year-end adjustments to post for depreciation, OPEB and pensions.

The water and sewer enterprise funds, Carson said, performed well with operating and non-operating revenues above budget; he cautioned there are still three to $4 million of expenses to post that will reduce some of the reported increase in net position. Council members asked about whether unspent CRC funds would roll into next year's budget; Carson said the funds roll back into fund balance and staff carried over about $1 million into the FY26 budget to cover any remaining CRC expenses.

Council members praised the conservative budgeting and visuals in the presentation. Carson and council members said they would continue to monitor year-end adjustments and return to council as necessary with final numbers.