Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Report topic
No spam. Unsubscribe anytime.
Butner accepts October financial report showing $19.84 million in town cash
Summary
The council accepted the October financial report presented by Mr. Ng: general fund cash $14,208,131; other funds $5,633,157; total cash investment $19,841,200. Revenue collections stood at 45.57% and expenditures at 36.63%.
The Butner Town Council voted to accept the town's October financial report after a presentation by Mr. Ng.
Mr. Ng reported that at the end of October the general fund cash balance was $14,208,131 and other funds held $5,633,157, for a total cash investment townwide of $19,841,200. "The revenue collections came in at 45.57%" he said, while general expenditures were at 36.63%.
Mr. Ng noted the town had written a check for about half a million dollars for a fire truck that will appear on the next report and said most departments were on track and under 40% of typical year-to-date expenditures. After brief questions the council accepted the report by voice vote; Council member Lane moved the motion and Council member Shank seconded.
Jordan, the town manager, later reminded the council that because the town received more than $750,000 in federal grant funds for the Olmstead demolition the town is subject to a single-audit requirement and that the Local Government Commission had extended the audit deadline to Feb. 12.
