Council hears stronger-than-expected cash balances; snow-gate purchase to be processed as ordinance

Councilman Bitter presented the financial report at the Oct. 14 work session, saying general fund revenue was down about $34,000 year-to-date but expenses were lower by $62,000, producing a favorable net position before capital expenditures. He said the general fund cash balance stood at approximately $1.6 million, roughly $150,000 higher than forecast.

On the water side, Bitter said revenue was up $222,000 primarily because of $175,000 in unexpected grants and higher tap fees; expenses were higher by $93,000 tied to loan-payment timing differences. The water fund cash balance was about $3.5 million, roughly $1 million above forecast. Total cash across general and water funds was reported at approximately $5.1 million versus a budgeted $3.9 million.

Bitter reported the Finance Advisory Board is waiting for the audit draft before meeting to review investments; the audit is expected by the end of the month. He also presented an analysis comparing 2026 loan payments and interest ($681,000) to calculated depreciation ($584,000) and said the service-availability fee portion aligns closely with budget assumptions.

Mayor Rok reminded the council that the purchase of snow gates (approximately $88,000) approved previously requires a budget amendment that should be processed as an ordinance (Ordinance 2025-08) rather than a resolution. Because ordinances require a 10-day posting period, the first reading will occur at the November meeting; subsequent readings will follow the ordinance schedule.

Next steps: the council will consider a draft permit application and fee recommendation related to septic inspections and will take up the first reading of Ordinance 2025-08 in November to add the snow-gate expense to the current budget.