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Swarthmore council reviews finances, approves payments and interim treasurer arrangements
Summary
Council received a finance update showing revenues near 74.7% of estimates and expenditures at 46.3% of the budget year-to-date, approved wire transactions and checks, and noted treasurer Nancy Kulo’s retirement with interim services provided by the Pacenti Group.
At the June 8 meeting the council received a finance update from Cindy, the finance committee chair, who said year-to-date revenues are about "74.7% of the estimated" figures and expenditures are running roughly 46.3% of budget. Cindy attributed some variance to timing and to grant receipts that have not yet arrived.
Cindy told the council that because the borough’s treasurer, Nancy Kulo, retired staff arranged for the Pacenti Group (Mark Pacenti) to provide tax-collector and treasurer duties and bookkeeping support on an interim basis. "The Pacenti Group is picking up on the taxpayer and treasurer duties," staff reported; Pacenti will work on site approximately one day a week while supporting the transition.
Council approved a motion to pay wire transactions totaling $6,417.95 and a second motion to pay checks totaling $376,623.38. The votes were recorded by voice; the transcript records one council member saying "I oppose" during the bill-payment vote but the motion carried. Cindy said staff will refine fund splits (for example transfer the borough manager salary between general and solid-waste funds) and that Dave will prepare the 2027 budget over the summer.
Council also reminded community groups that applications for borrowing funds or other budget requests should be presented at the July 6 meeting and that operating and capital budgets will be tracked separately going forward.
