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Maumelle finance director reports May 2025 results; general fund and bond paydown discussed
Summary
The city presented May 2025 results showing a $5.5 million general fund balance (net $5.2M after commitments), several departmental variances, and bonds payable estimated at roughly $10.6 million across two series with staff noting earlier-than-expected paydown potential for the 2018 series.
Beatrice, the city clerk/treasurer and finance presenter, reviewed Maumelle’s May 2025 financial results at the June 16 council meeting. She said the general fund balance stood at $5.5 million with an estimated net position of $5.2 million after committed purchase orders, exceeding the unassigned fund requirement of about $4.2 million (20% of revised operating expenditures).
Major variances and transfers: Beatrice reported public‑safety revenues were lower by $164,000 because dispatching revenue was not collected in 2025; parks revenue was down roughly $34,000; building‑permit revenue in planning and permits was higher due to city development; and the city paid a $73,000 legal settlement. She said the fire department received an operational transfer of $1.1 million into the capital improvement fund for Fire Engine 2 replacement.
Bonds and paydown progress: The city has two outstanding bond series from 2018 and 2019 with total remaining balances described in the presentation as about $10.6 million. Beatrice said current collections and applying additional receipts have allowed staff to consider paying the 2018 series off earlier than originally scheduled (she presented an illustrative pay‑off year of 2028 versus the prior 2038 schedule) and estimated the 2019 series could be paid by 2033 under current assumptions.
Other items: staff noted lower capital expenditures in 2025 compared with 2024 (because of prior one‑time payouts) and reported invested CD activity as part of bank diversification. Auditors have finished field work and staff expects the ACFR to be presented at an upcoming meeting.
What’s next: Council moved and accepted the financial report during the meeting. Staff will continue to monitor bond schedules and bring proposals if staff recommends accelerating paydown or reallocating funds.
