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Finance director reports $2.2M increase in funds; city remains under budget at mid‑year
Summary
Acting finance director Pam Sanders reported a $2.2 million increase in total funds (Jan–Mar 2026), a strong cash position near $19.8M, a general‑fund surplus of about $3.25M at mid‑year, and continued monitoring of utility fund timing issues; staff also introduced a transparency‑stars initiative.
Pam Sanders, acting finance director, presented Elgin’s quarterly financial and investment reports for January through March 2026 on April 21, reporting an increase of roughly $2.2 million in total funds for the quarter, driven in part by roughly $186,000 in investment interest and an expected property‑tax influx in January.
Sanders said daily operating cash at First National Bank ended near $8.5 million while…
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