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Finance report: Waite Hill posts $105,000 tax advance but fund balances decline year over year
Summary
The Finance Committee reported a $105,000 first-half property tax advance, higher monthly revenues versus last year, but total fund balances declined $318,307 year‑over‑year and a 10‑year projected decline was noted.
Karl Scheucher, chair of the Finance Committee, presented the committee’s March 10 report appended to the council minutes and highlighted a $105,000 first-half property tax advance — up from $71,000 the previous year. He reported February Local Government Fund revenue of $12,783 (versus $15,615.69 in February 2024), interest income of $13,976 (versus $14,216.97 last year) and total revenue of $136,889 compared with $115,925 a year earlier.
Scheucher told council that total expense for the month was $193,695, noting the purchase of a new police cruiser (a Dodge Durango) accounted for most of the increase. He reported total fund balances of $8,381,821, a decline of $318,307 from the prior year, and presented a 10‑year projection that showed a decline in total funds of $1,877,426 (an average annual decline of $187,743). The appended report also included a funds forecast graphic referenced in the minutes.
The minutes summarize the committee’s view that while total fund trajectory flattens, the General Fund trajectory predicts a decreasing balance in coming years. No specific remedial policy action was recorded in the minutes at this meeting; the report was appended to the minutes for the record.
