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Town hears annual financial report: property tax up, sewer revenues altered by DOC funds
Summary
Finance staff presented the annual report showing a $165,000 increase in property tax revenue, declines in sales and building‑permit revenue, and large reported changes in sewer fund revenue tied to DOC fund proceeds; council scheduled follow‑up for ambulance fund losses.
Tyson (S7) presented the town’s annual financial report and summarized key year‑over‑year changes before council approved the report.
Tyson highlighted that property tax revenue increased by about $165,000 while sales tax revenue decreased by roughly $36,000 and building‑permit revenue fell by about $140,000. Interest income decreased by about $8,200 and contributions and donations were down about $21,000. Special assessment revenue increased by about $45,000.
On enterprise funds, Tyson said long‑term debt for enterprise funds (water, sewer, pool and ambulance) rose due to recent projects, with increased borrowing for water and sewer described in the report. He also said the sewer fund revenue showed a dramatic decrease of about $10,800,000, which he attributed primarily to the timing or absence of DOC fund proceeds; excluding those items, enterprise revenues generally increased by $211,000. Tyson noted the ambulance fund is still operating at a loss and later staff gave a working figure of roughly $160,000 in lost payments for that fund.
Council members asked for additional detail and scheduled further review next week to examine specific fund balances and implications for future budgeting. The council moved, seconded and approved the annual report on voice vote.
