Swansea treasurer reports $24.6 million across funds; finance committee notes surplus and open closeout items

The Swansea treasurer reported total fund balances of $24,576,233.66 as of April 30, 2026. The treasurer read fund balances in detail, including a General Fund balance of $7,924,004.41; sewer capital and reserve funds totaling over $8 million; and multiple TIF and business-district accounts.

Finance overview: At the committee level, the finance lead (S9) presented a preliminary general-fund analysis through April. The packet showed increased revenues in multiple line items and unspent capital projects rolled forward to the current fiscal year, producing a preliminary surplus. Staff emphasized that auditors commonly reclassify or adjust line items during the July audit closeout and that final numbers will be available after the audit.

Trustee questions: Trustees asked whether insurance proceeds for roof repairs had already been credited to the general fund; staff said they would verify timing and whether those receipts were included in the surplus. The finance lead identified revenue drivers including higher sales tax (~$215,000 increase), offset by lower use tax (roughly $150,000 decrease), and modest increases in utility taxes and video-gaming receipts.

Action on bills: Trustees approved bills totaling $446,203.43 by roll-call vote.

Representative data: The treasurer listed the following notable funds and balances: General Fund $7,924,004.41; Motor Fuel $1,429,818.26; 159 Bold Business District $1,948,294.48; Sewer Capital Replacement $8,133,562.44; TIF 1 $2,390,360.54; TIF 2 $348,530.57; combined total $24,576,233.66.

Next steps: Staff will confirm insurance and grant timing with trustees and the auditors will finalize year-end adjustments in July.