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Finance director presents reconciled capital funding snapshot; ARPA reported fully expended
Summary
City finance staff presented reconciled balances through March 31, 2026: SPLOST I available ~$512,932 for roads/bridges/sidewalks, SPLOST II ~$1,598,871 across multiple categories, ARPA shown as fully expended and under final reconciliation, and a $2 million small‑city IDA balance was reported.
City finance staff gave council a reconciled view of the city’s major capital funding sources through March 31, 2026, and outlined next steps for audits and journal-entry finalizations.
The presentation listed available balances by fund: SPLOST I (approved 2016) at approximately $512,932 for roads, bridges and sidewalks; SPLOST II (collections began May 2024) at about $1,598,871 distributed across roads, stormwater and recreation; ARPA funds reported as fully expended and in the final stages of reconciliation for the FY2025 audit; and a small-city IDA balance of $2,000,000 available for stormwater and recreation projects, per the contract language read into the record.
“We reconciled expenditures across funds and corrected prior misclassifications,” staff said, reading the figures for council. Staff noted the city submitted required ARPA reporting to the U.S. Department of the Treasury for the April 2025–March 2026 period and that finance will complete journal entries and audit support to finalize balances.
Council members asked whether the SPLOST I balance was already committed to projects and pressed staff on internal controls after an earlier misclassification (the parking-lot fence was discussed as an example). Staff responded that the $512,932 figure reflects reconciled activity and that staff will improve controls and communication to avoid misallocations. Council also discussed revenue allocation percentages from the SPLOST referendum and expected future collections.
The presentation concluded with staff’s next steps: finalize transfers and journal entries, complete audit preparation, align funding sources with project planning, and produce updated financial reporting for council review.
