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Stormwater fund reports about $1.45M; board flags liability-insurance budgeting mismatch
Summary
Board heard a financial report showing roughly $1.45 million in stormwater funds, monthly revenue of $341,846.82 and disbursements of $298,225.11; members said liability-insurance renewals and budgeting timing will likely require an additional appropriation or further explanation.
The Clerk reported the stormwater fund numbers during the July 8, 2026 meeting. The Clerk stated, “The current fund balance is $1,000,449 or $1,449,652.62,” said the monthly revenue was $341,846.82, total disbursed this month was $298,225.11 and bank interest for the month was $3,337.64.
Board members noted the liability-insurance line has used this year’s appropriated amount. A Committee member explained the board typically budgets in the fall but liability-insurance renewals occur in January, which can create a timing mismatch; the Committee member said the board will need to either request an additional appropriation or provide an explanation to account for the overrun.
The board did not adopt any budget changes at the meeting; members asked staff to follow up with a clear explanation and, if necessary, to prepare a request for an additional appropriation.
