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Clermont finance director reports midyear budget on track but flags capital lag and debt accounting
Summary
Finance Director Scott Bore told the Clermont City Council on June 9 that city revenues totaled about $76.9 million year‑to‑date while expenditures were roughly $55.3 million, with capital spending lagging ($6.9M of $51M budgeted) and debt‑service accounting recently adjusted. Council asked staff to reconcile PDF packet discrepancies and explore state sales‑tax allocation methods.
Clermont’s finance director told the City Council on June 9 that the city’s midyear financial picture is broadly stable, but officials should monitor capital spending and recent accounting adjustments.
Scott Bore presented the fiscal‑year‑2026 second‑quarter report, saying the city had received about $76.9 million in revenue year‑to‑date, roughly $3 million less than the same point in the prior year because of timing differences in bond‑related interfund transfers. Total year‑to‑date expenditures across funds were approximately $55.3 million.
Bore highlighted that across all funds the city had collected about 54% of budgeted revenues at midyear and was at about 34% of budgeted expenditures, driven largely by slow capital spend: $6.9 million has been spent of $51 million budgeted for capital projects. He also noted the general fund had received just over $41 million to date and had spent roughly $26.2 million.
On taxes, Bore said ad valorem collections were about 81% of expected receipts for the year at the midyear point and historically finish between 94% and 98% annually. He recommended staff continue tracking collections as the season progresses.
Council members asked about a line item labeled “judgments, fines and forfeitures,” and Bore said he did not have that breakdown at the lectern but would follow up. They also pressed for clarity on the debt‑service fund, which showed more than 100% due to final close‑out accounting tied to a wastewater treatment project; Bore said that accounting has been completed and will be reconciled in an upcoming budget amendment.
Bore said the audited beginning fund balances had been incorporated into the report available on the city website, and the current unreserved fund balance above policy was projected to be about $24.1 million at year end. He told council the next budget amendment, to reflect several unbudgeted FEMA reimbursements and accounting closeouts, would be brought forward for approval at the end of June.
Mayor and council asked staff to review state sales‑tax allocation calculations after noticing flat local sales‑tax receipts despite local growth. Bore agreed to research the allocation method for a future report.
Council did not take action on the presentation; Bore said staff will provide the detailed tables and reconcile packet PDFs and follow up on specific line‑item questions.
