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Dunmore reports $77,000 net loss in May; YTD net income remains $2.6 million
Summary
Treasurer Mark Burton told council the borough had a $77,000 net loss in May and year-to-date net income of $2.6 million, citing franchise fee revenue, grants and a large work-comp expense; council asked follow-up questions.
Treasurer Mark Burton reported the borough had a net loss of $77,000 for May and a year-to-date net income of $2.6 million. Burton outlined revenue and expense figures: $48,000 from Comcast franchise fees (first quarter), a $15,000 state fire grant, and $125,000 in miscellaneous revenue. On the expense side, Burton cited $274,000 for employee benefits/workers’ compensation and $55,000 in solid-waste repairs, and he reported another $100,000 repayment on a short-term TAN loan.
Council asked questions about refunds from a prior insurer (Swift) and about the level of reported incidents in monthly departmental reports. Burton said the borough expects a refund related to canceled policy premiums and offered to add incident counts to future police monthly reports.
The treasurer’s report was provided in the regular financial section and copies of the full report were available on the meeting table.
