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Finance director reports CIP spending, wastewater costs and revised budget schedule
Summary
City finance staff reported roughly $3.6M in CIP spending year-to-date, said the wastewater optimization project had over $1.9M in April expenses awaiting reimbursement, and announced revised public hearing and reading dates for the recommended budget.
City finance staff provided the council with a monthly financial report that outlined capital spending, revenue projections and an updated schedule for the recommended budget.
Hutchins told the council the city has recorded about $3,600,000 in capital improvement (CIP) expenditures to date and that business-license revenue growth is expected to post in coming weeks. “We have over $1,900,000 in expenses for that project, in April, and we are still waiting to get reimbursed,” Hutchins said, referring to the wastewater treatment optimization project.
Hutchins said the city is close to its budgeted position when outstanding receipts post and reviewed the timetable for the recommended budget: a rescheduled presentation, a public notice to be published in the newspaper, a public hearing and a second reading planned later in the month. He said the finance committee would meet to review the recommended budget before the first meeting and noted that hospitality fund balances are held in a separate fund and may roll over.
Council members asked for clarification on specific project reimbursements, vehicle- and equipment-related replacements and which grant funds remain outstanding. Hutchins said staff had detailed breakdowns and would provide them to the council ahead of the next hearing.
The council did not take final budget action at the meeting; Hutchins scheduled follow-up committee review and public hearing steps on the revised calendar.
