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FY26 update: Riverdale Park projects revenue above budget; automated programs raise receipts
Summary
Deputy Finance Director Jones reported estimated FY26 operating revenue of about $12.67 million (108% of budget), citing strong local taxes and automated enforcement revenues; expenditures are projected below budget, and staff said an automated enforcement budget amendment will be needed.
Deputy Finance Director Jones presented the town's estimated actuals for FY26 and told the council that, at present, operating revenue is projected at about $12,666,000, roughly 108% of the $11,730,000 budget. Jones said stronger local tax receipts and higher returns from automated safety programs were the main drivers of the positive variance.
On the expenditure side, Jones said the town expects to use about 95% of the adopted budget (approximately $11.1 million), noting vacancy savings in salary and wages. Contractual services are running slightly above budget in part because of automated enforcement program activity, and the fiscal impact of a winter ice storm increased weather‑response costs.
"These are our best estimates as of today," Jones said, and staff recommended continuing conservative monitoring as the town closes the fiscal year. Jones noted staff will present any required budget amendment to reflect automated enforcement revenue and related expenditures.
Council members had no substantial objections to the update and asked a few clarifying questions about weather‑response and automated enforcement line items. Jones said the town remains in a favorable fiscal position and will continue to align with Government Finance Officers Association (GFOA) best practices.
