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Keene posts roughly $1.02 million surplus; board accepts quarterly financial report
Summary
Mayor Lamb reported Keene ended March 2026 roughly $1,017,240 in the black, with revenue of $1,068,513.30 and expenses of $51,272.61; the board moved and approved the quarterly financial report by voice vote.
Keene's board accepted the quarterly financial report after Mayor Lamb summarized the city's fiscal position for March 2026. "We ended March 2026 with $1,017,240 in the black," Mayor Lamb told the board, adding that total revenue for the period was $1,068,513.30 and expenses were $51,272.61.
Mayor Lamb said the city was about 40% below budget on expenses so far because capital asset and professional-services budgets have not yet been used. A board member noted that by midyear the year-to-date target for budget columns is typically 50%; staff confirmed revenues are ideally over 50% and expenses under 50% at the halfway point of the fiscal year.
The report also showed a 4.56% increase in sales-tax collections year over year (about $30,731) and said remote sales (deliveries) account for roughly 43% of collections. City officials reported about $1.3 million in the bank, driven in part by sale proceeds from the industrial park, and an average interest rate of about 3.83% on deposits.
A motion to accept the quarterly financial report was made and seconded; the board approved the motion by voice vote. The board did not record a roll-call tally in the transcript. The speakers noted upcoming budget work in which potential staffing for the EDC and use of capital budgets will be considered.
