Timberlake Fiscal Officer reports $513,939 balance, estimates annual surplus

John H. Roskos, Timberlake’s Fiscal Officer, presented the August financial report at the Sept. 17 council meeting, reporting a General Fund ending balance of $513,939.89 through Aug. 31, 2024. He said August revenue totaled $151,964.80 against expenditures of $68,117.63, producing a monthly surplus of $83,847.17.

Roskos estimated an annual General Fund surplus of about $142,212.66 under current spending and revenue assumptions. He noted that if the council adds $15,000 to the Police Cruiser Capital Fund at the end of 2024 the projected surplus would be about $127,212.66. Roskos said the month included a large second-half real estate settlement that contributed $108,232.26 to the General Fund and smaller distributions to the Sanitary Sewer Fund. He also reported storm-related expenses and six security-deposit refunds totaling $550 from the Hall Rental fund.

Council members asked about property-tax allocation to storm sewers and reevaluation procedures; Roskos said the storm-sewer amounts are itemized on tax bills and explained informal and formal contest timelines for property valuation, including Board of Revision hearings and that some appraisals were completed using drone-assisted appraisals by a company called Visions. Jerry Joyce requested a Finance Committee meeting to review the budget; the minutes record that a Finance Committee meeting was scheduled for Oct. 8 (editor’s note in the minutes corrected the meeting scheduling elsewhere).