Council accepts midyear budget and investment reports; finance director says city is on track

The Berkley City Council unanimously accepted two routine finance reports March 2: the quarter-ended Dec. 31, 2025 budget-to-actual report and the city's quarterly investment report.

Finance Director Carl Johnson presented the budget summary, saying the general fund had recognized about 76'77% of budgeted revenues through the first six months and that expenditures were running below the 50% mark at roughly 35%. Johnson explained that property-tax timing and a lag in state revenue-sharing payments account for much of the variance.

"We are still below that 50% threshold and right on track with where we want to be," Johnson said during his remarks on the six-month report, which also highlighted major upcoming capital work, notably a multi-year Bacon Avenue reconstruction project estimated at more than $7 million.

On investments, Johnson said the city's approach remains conservative and compliant with state guidance (PA20 as cited in discussion): primary holdings include certificates of deposit, money-market accounts, local-investment pools and a newly purchased 90-day CD of about $3 million at roughly a 4% yield. He said further reallocation of funds is likely next quarter once bank transfer limits are adjusted.

Both items were approved by unanimous roll calls after brief council questions about visuals and presentation format.

The actions keep the council informed of fiscal status and do not, by themselves, change policy or tax rates; subsequent budget amendments and contract approvals were handled in separate agenda items that day.