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Officials report un‑audited general fund and utility numbers; audit due in two months
Summary
Finance staff presented un‑audited year‑end utility and general‑fund figures showing roughly a $2.5 million net gap and said the annual audit should be complete in about two months; commissioners queried debt service and bond timing.
Finance staff provided the commission with an un‑audited summary of utility and general‑fund results and an update on the audit and budget timeline.
A presenter identified in the transcript as Dr. Calcott (name appears in the record) reviewed the utility year‑end figures and said historically revenues have exceeded expenses and that remaining amounts are placed in reserves for capital or emergencies. When asked about annual debt service, the presenter said it is "around 6 million" and that the debt schedule is expected to decline beginning in 2029 and further by 2031, making the city positioned to roll remaining debt into a future utility bond.
Finance staff (Allan) gave preliminary general fund numbers described in the transcript as revenues '1367' (un‑audited) and expenditures 'around 134.9 million,' with a net change of about a $2.5 million gap; staff said the audit should be finished in roughly two months and final numbers will be available then. Commissioners asked when preliminary budget numbers will be sent to the commission; staff said they will try to communicate earlier than the usual June schedule and anticipated sharing in late May.
Commissioners asked whether it makes fiscal sense to pay down debt early; staff advised debt schedules, potential penalties and bond‑roll options, and recommended using current low interest rates for other investments rather than prepaying. The record contains only staff descriptions of schedules and budget process next steps; commissioners directed staff to provide forthcoming budget materials and to bring CIP and budgetary remedies forward as part of the upcoming budget discussions.
Because these figures were explicitly described in the meeting as un‑audited, the article treats them as preliminary; the transcript and staff repeatedly note that audited, finalized figures will be provided after the audit is complete.
