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Granby finance director reports steady collections, rising DPW overtime after winter storms
Summary
Director of Finance Kimi Cheng told the Board of Finance that tax collections are running at 96% and the town earned about $56,900 in January interest; she highlighted sharp increases in Public Works overtime tied to winter weather, which may create an unfavorable budget result to be absorbed within the DPW budget or contingency.
Kimi Cheng, Director of Finance, told the Board of Finance that as of Jan. 31, 2026 total tax collections remained consistent with prior years at 96 percent compared with 95 percent the previous year. Cheng said the town earned approximately $56,900 in January from the Short-Term Investment Fund, with a daily and seven-day yield of 3.73 percent.
Cheng said General Fund year-to-date expenditures were 65 percent of budget, comparable to 64 percent at the same point last year. She highlighted a marked increase in Public Works overtime — year-to-date overtime of $112,002 versus $45,928.58 the prior year, and January overtime of $61,607 versus $9,381 the prior January — attributing the rise primarily to several winter weather events that required extra road treatment. Cheng said the DPW overtime line is expected to have an unfavorable budget result that will be absorbed within the DPW operating budget or covered by contingency funds.
Cheng also reported Police Department overtime as of Jan. 31 totaled $142,718 versus $108,941 last year, with January overtime of $14,793 compared with $13,508 the prior January. The Board of Education submitted its January expense report showing personnel and program accounts within the approved budget; special education expenditures continue to fluctuate and encumbrances are being adjusted. The Q&D fund is projected to end the year near $400,000 and town revenue is projected at $2,563,975.
The board did not take formal action on the January financial reports during the special meeting.
