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Cheverly officials project roughly $4.7 million unrestricted fund balance at fiscal-year end; FY2026 budget ordinance set for June 12
Summary
Finance staff told the Cheverly council that, after accounting for ARPA and restricted items, the town projects about $4.7 million in unrestricted fund balance at June 30, 2025; council heard a brief reading of Ordinance 2025-3 (FY2026 budget) and staff will present the ordinance for adoption at the June 12 town meeting.
Town finance staff told the Cheverly Mayor and Council that current projections show an unrestricted fund balance of roughly $4.7 million at the end of fiscal 2025, and the council heard a short reading of the fiscal-year 2026 budget ordinance that the council will consider at its June 12 meeting.
"We've reconciled through April 2025," Diane Mott (finance staff) said. She reported that revenues to date leave expenditures exceeding revenues, but when adjustments are made for ARPA and Ealy Building restricted items the town faces a modest projected deficit for FY2025; the FY2026 ordinance as published would fund a planned deficit of about $384,000–$386,000 if adopted as written.
Town Administrator Delaine Galloway said staff added a $50,000 land-acquisition line that shifted appropriations from fund balance to $384,106. Finance staff explained that restricted funds—ARPA and Ealy Building allocations—reduce the pool available for discretionary use. "At this point in time the unrestricted fund balance is approximately $5,600,000," Mott said referencing the start-of-year breakdown; after projected spending she said the council could begin FY2026 with roughly $4.7 million in unrestricted funds, subject to audit in October.
Why it matters: the projected balance, and the decisions the council makes about budget adoption, will determine available discretionary resources next year for capital work, parks and services. Council members asked technical questions about unrestricted versus restricted balances, bond call options and which line items drive year-end variation.
What’s next: staff will present the FY2026 adoption ordinance and supporting budget at the June 12 town meeting for council consideration and formal adoption. Finance staff cautioned that projections could change depending on departmental spending in May and June and final audit adjustments.
Quotes and clarity: council members and residents asked for clearer public access to historical records and _where_ items such as agendas and budgets are posted; staff said they will continue improving the website and work on archiving older records with the Maryland State Archives where appropriate.
