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Waite Hill finance report: first-half tax revenue $781,558; funds down $308,482 from last year
Summary
The Finance Committee reported first-half property tax revenue of $781,558 and total fund balances of $8,552,927, a decline of $308,482 from a year earlier. The committee's forecast projects a 10-year decline of $1,718,963 in total funds, averaging a $171,896 yearly decrease.
The Waite Hill Finance Committee presented its monthly report July 14, showing first-half property tax revenue of $781,558 and total fund balances of $8,552,927 as of June 2025 — a decline of $308,482 from the same time last year.
Committee Chair Karl Scheucher reported Local Government Fund revenue for June of $12,782 and interest income of $8,165 for the month. Total revenue for June was $27,439 versus $42,342 a year earlier; total expense for the month was $150,720 compared with $139,360 a year earlier.
The committee's funds-trajectory estimate projects total funds declining from an estimated $9,607,261 in June 2020 to a projected $7,888,298 by June 2030, a projected decline of $1,718,963 over 10 years (an average decline of $171,896 per year). The report appended to the minutes includes charts and a funds forecast graphic; the minutes note a flattening trajectory overall but predict a decreasing balance in the General Fund.
Scheucher signed the appended report and the minutes record the portfolio and quarterly report for the Waite Hill Village Foundation prepared by Ancora, which shows an ending market value of $1,344,875.75 for the foundation's managed account as of June 30, 2025.
Next steps: The Finance Committee will continue monthly monitoring and provide follow-up materials; the minutes and appended reports should be consulted for charts and line-item details not captured in the meeting text.
