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Treasurer gives preliminary FY24 numbers showing positive net income; warns of pending adjustments
Summary
Treasurer Susan Walker presented preliminary fiscal‑year‑end numbers: $1,032,173 in receipts against a $1,129,789 revenue budget and $899,618 in spending against a roughly $1,000,088 expense budget, yielding a preliminary net income of $130,455; she cautioned that adjustments could reduce that total.
Susan Walker, the town treasurer, presented preliminary fiscal year‑end figures to the Fairmount Heights Town Council on July 17 and said she is still closing the books for the year that ended June 30.
Walker reported a total revenue budget of $1,129,789 with receipts of $1,032,173 and a total expense budget of approximately $1,000,088 with expenditures of $899,618, producing a preliminary net income of $130,455. She cautioned the number is preliminary and that additional year‑end adjustments could reduce the net income.
Walker outlined three outstanding vehicle loans and balances: a dump truck ($9,274 balance), a trash truck ($35,413 balance) and a pickup ($65,322 remaining), and said the dump truck and trash truck loan balances should be paid off next year. She also explained that a recent contract for a parliamentarian was under $1,000, so a formal bidding process was not required though she said she compares quotes to ensure reasonableness.
Why it matters: the preliminary numbers set the starting point for fall budget reviews and for decisions about contract renewals and capital purchases. Walker said she will schedule a meeting with council members to review contracts and outstanding obligations after the recess.
Next steps: Walker will continue closing the fiscal year, provide detailed reconciliations to the council and schedule a follow‑up meeting to review contracts and next‑year planning.
