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Treasury report: Dunmore cites $1.4M monthly loss, $1M bond principal payment
Summary
In a Sept. 8 presentation to council, finance official Mark Burton reported a $1.4 million net loss for August, a year‑to‑date net income of $984,000, and major debt payments including $1 million of bond principal and about $93,000 in interest.
Mark Burton presented the borough’s August financial snapshot at the Sept. 8 Dunmore Borough Council meeting, reporting a net loss for the month of $1.4 million and saying the year‑to‑date net income is $984,000.
Burton identified two large payments that drove the monthly result: a $1 million annual bond principal payment and about $93,000 in semiannual bond interest. He also noted $44,000 in Comcast franchise fees were received for the first quarter of 2025 and discussed the new rental‑registration receipts, which he said were arriving regularly and totaled roughly $27,000–$30,000 through the end of August.
Council members asked follow‑up questions about the debt schedule and specific charges. When Council President Janet Brier asked about a $2,600 payment to Central Penn College, Burton said that represented housing for a new firefighter attending an out‑of‑town academy (he later and separately identified the training as a 14‑week program at Harrisburg Area Community College and listed related training costs of $6,500).
Burton said the borough’s rental registration program has begun producing revenue and that payments would continue to be tracked through the remainder of the year. He also reported that debt principal was reduced this month and that the borough expects further reductions in coming years under the current debt schedule.
What to watch
- Debt service: The borough made sizable bond payments in August that materially affected the monthly cash result; council members requested clarity on the schedule for future principal reductions. - Rental registration revenue: Burton reported roughly $27,000–$30,000 received through August; council and staff indicated they will continue monitoring monthly receipts.
Mr. Burton's figures were presented in the meeting transcript as spoken remarks; some line items (notably the rental registration figure) were given orally and recorded in shorthand, and the transcript shows a truncated numeric readout ("27,6") that the borough clarified in discussion as approximately $27,600 through August.
