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Staff reports modest surplus, reserves and sales-tax uptick at Greenwood Parks meeting
Summary
A staff member told the Greenwood Parks Commission the operations side had a reported surplus of $19,822 after finance adjustments, projected a general restricted fund balance of about $764,000, and said January sales-tax distribution was roughly 4.4% above expectations; pavilion deposits of $45,000 were noted as restricted and not part of commission funds.
A staff member presented a financial update at the Greenwood Parks Commission meeting on Feb. 17, reporting a modest operations surplus and improved sales-tax receipts while explaining several reserve adjustments.
The staff member said that after finance department adjustments the operations side showed a surplus of $19,822 and that the commission’s projected general restricted fund balance is about $764,000. They clarified that a $45,000 pavilion deposit is held separately and is not included in the commission’s fund report unless forfeited or transferred, describing it as restricted money not available to operations.
Staff reported that the council had settled on a 15% contingency target for general (unrestricted) reserves rather than a 20% target, which reduced the previously discussed contingency level and contributed to the current calculations. The operations budget figure cited in the presentation was $577,000.
Insurance costs were cited as another factor: staff said expected general insurance inflation dropped from 15% to 5%, reducing property, vehicle and equipment premiums and improving the surplus. Staff also described reallocations of other reserves (citing a historical contingency around $60,000 trimmed toward a $20,000 target) and said those moves, together with revenues, meant no across-the-board budget reductions were necessary at this time.
On revenue performance, staff said the city’s January sales-and-use tax distribution came in approximately 4.4% above the budgeted figure for the month, and that a November spike in retail sales produced significant additional retail revenues in the reporting period. Year-end figures for 2025 were cited: staff said the city started and ended 2025 with restricted and general fund totals near $524,000 and stated current numbers are about $537,000 (roughly a 2.5% increase), with the caveat that January is not typically representative due to holdbacks and budgeting timing.
The presentation did not produce a formal vote; staff asked if there were questions and responded to requests for more detailed reports to be shared at a subsequent meeting.
