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Finance staff reports modest general-fund surplus; several funds warrant monitoring
Summary
Staff presented the May financial update: general fund operating surplus ≈ $13,000; street fund showing ~ $50,000 deficit after capital purchases; water/sewer combined surplus ≈ $112,000; parks capital deficit ≈ $92,000.
A staff member presented the town's May financial report, saying revenues and expenditures vary by fund and that overall cash balances look healthy.
Key figures reported: general fund operating surplus of about $13,000 year-to-date; street fund at a roughly $50,000 deficit due to unbudgeted capital equipment purchases but with a cash balance sufficient to cover current needs; parks operating surplus of about $14,600 while parks capital shows a $92,000 deficit tied to unplanned projects and equipment replacement (including a Polaris); combined water and sewer funds were reported at a surplus of about $112,000 going into the final fiscal quarter.
Staff said franchise-fee revenue trails budget estimates but is expected to pick up during summer months, and that several capital items outside the budget are driving shortfalls in specific funds. Councilors asked questions and were invited to request more detail; none were raised beyond clarifications and the item concluded with no formal action.
