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Finance Committee reviews budget-to-actuals, cash flow and TAN; administrator cites overtime balances
Summary
At a special Oct. 1 meeting, the Finance Committee heard City Administrator Holly Jacksonreport on budget-to-actual comparisons, cash flow and a tax anticipation note; attached reports show overtime balances of $11,922.29, $4,057.68 and $1,873.33 across three accounts.
The Finance Committee of the City Council met Oct. 1, 2025, at 2:30 p.m. and received a financial update from City Administrator Holly Jackson on budget-to-actual comparisons, cash flow and a tax anticipation note (TAN). The attached account reports show overtime balances across three general‑ledger accounts totaling $17,853.30 (sum of reported balances).
City Administrator Holly Jackson introduced the committeeitems and presented attached detail account inquiries. The report for G/L 015401-1 lists overtime postings through Sept. 19, 2025, with a running balance of $11,922.29. The report for G/L 015301-1 shows a running balance of $4,057.68, and G/L 015201-1 shows a running balance of $1,873.33. The minutes note that reports are attached but provide no further narrative or recommendations in the record.
The committee's agenda also included a review of cash flow and discussion of a tax anticipation note; the transcript records that the TAN was discussed as part of the update but does not record any decision, motion, or terms related to issuing a TAN. No formal vote or direction on the TAN or other budgetary actions is recorded in the minutes.
Mayor Miko Pickett moved to adjourn the special meeting; Council Member Terry Davis seconded the motion and the meeting adjourned. The minutes list Council Members Luke Gasque and Terry Davis, Mayor Miko Pickett, City Administrator Holly Jackson and Clerk Felicia Sawyer-Norton as present.
Next steps: the minutes indicate that reports were attached for committee review; the record does not list follow-up assignments, vote tallies, or scheduled further action on the TAN or other agenda items.
