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Rushford Village council approves May financials; treasurer warns general fund shortfall until June receipts
Summary
At the June 2 meeting the Rushford Village council approved May financials while Treasurer Judy Graham said the general fund showed an $81,859 deficit pending large June receipts and that CDs and other cash reserves bridge timing gaps.
The Rushford Village City Council approved its May financial report on June 2 while Treasurer Judy Graham told the council that timing of receipts leaves the general fund about $81,859 in the red until June inflows arrive.
Graham reported May expenses of $58,323.02, May receipts of $14,138.22, outstanding checks totaling $44,742.82 and a bank balance of $114,113.46. She explained that the CRV statutory budget runs Jan. 1 to Dec. 31 and that major payments to the city are received in June and December, requiring the city to carry short-term cash from CDs and other reserves. "The bank balance is $114,113.46 but the general fund is -81,859.00 in the red," Graham said.
Councilors approved the financials (motion by Robert Hart, second by Mike Ebner). The council recorded estimated June receipts of $312,500 and estimated June expenses of $69,000; CD holdings were described as renewing at current advertised rates.
The treasurer's explanation framed the shortfall as a timing issue tied to the municipal revenue cycle rather than an unexpected operating deficit; the council did not adopt any new revenue or expenditure policy at the meeting. The council's next regular meeting is set for June 16, when a public hearing on Fee Schedule Ordinance #22 is scheduled at 6:45 p.m.
