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Type B board told it is operating $37,224 in the black; preliminary FY27 budget presented for review
Summary
Finance staff reported the Type B board was $37,224 in the black at the end of March and the account held $624,697.90; staff walked the board through a preliminary FY27 budget projection and asked members to send questions before formal approval next month. The quarterly financial report was accepted by the board.
Finance staff presented the quarterly report and a preliminary budget overview to the Type B board.
"At the end of March, we are operating $37,224 in the black," the finance presenter told the board, adding that year‑to‑date revenue and expenses were provided in the packet and that capital outlays budgeted for the year have not yet been spent. The presenter read the account balance at the end of March as $624,697.90 and said the board had earned $12,162.73 in interest income year‑to‑date.
Staff described how local sales tax and rising remote (online) sales‑tax collections are affecting revenues. The presenter said local sales‑tax collections had grown and that remote taxpayers (online sales delivered to local addresses) were currently the top source in the report.
Board members reviewed column headings on a multi‑column budget worksheet; staff said one covered column represented a FY27 proposed projection. Staff explained the FY27 numbers were a conservative projection based on dividing year‑to‑date expenses by six and projecting to full year; members were asked to review and submit questions because formal approval is expected at the next meeting.
The finance report was accepted by the board by raised hands.
Next steps: Finance staff will provide a more detailed line‑by‑line budget in advance of the formal approval vote next month and respond to member questions about assumptions and earmarked capital projects.
