Trussville finance director reports roughly $3.5M general-fund surplus; sales tax and land sales cited

Trussville's finance presenter reported to the City Council on Jan. 27 that the general fund shows a year-to-date operating surplus of about $3.5 million, excluding debt service, transfers and capital outlay.

"Currently, year to date, we're looking at $3.5 million surplus in the general fund," the finance presenter said, noting the surplus reflects contributions from sales-tax increases, land-sale proceeds and higher-than-expected lodging- and business-license receipts. The presenter told council that sales tax accounted for roughly 59% of the city's total budgeted revenues and that sales-tax receipts were about 3.5% higher year-to-date compared with the prior year.

The presenter outlined cash balances and recent changes: Trussville ended November with about $2.1 million in cash, rose to about $7 million in December following additional receipts, and reported roughly $12.6 million in cash at the time of the briefing. He cautioned that February through September are traditionally slower months for revenue and said staff would continue expenditure control; he also said a budget amendment is likely to be proposed in late February or March to reflect the stronger revenue picture.

The presenter provided itemized variances: lodging tax year-to-date receipts were roughly $400,000 against a $200,000 budget for the period; business-license and permit revenues were also above budget. He highlighted a reduction in capital outlay spending compared with the previous year, which contributed to the favorable operating results.

Council members thanked staff and said they would review the detailed financials circulated after the meeting.