Hopewell finance staff reports preliminary FY26 surplus; collections rates improving

Miss Jordan presented the city’s preliminary fiscal‑year‑end numbers for FY26, citing a preliminary citywide excess of revenues over expenses of about $8.4 million, excluding any accounts‑payable or payroll accruals. She said general‑fund preliminary net position is roughly $5.4 million and the enterprise funds (water, sewer, solid waste, stormwater) show a preliminary $4.9 million excess driven in part by one‑time capital billing and collections.

Miss Jordan noted that school preliminary year‑end figures were affected by changes in grant timing (including ESSER) and that the city and schools will follow a closeout schedule with submissions to the auditor due this summer and fall. She also gave accounts‑payable totals for the fourth quarter and said the administration expects to complete the ACFR on schedule.

A collections presenter reviewed property and business‑license collection rates (showing improvement since March across 2024–2026) and reported investment and bank account balances, including LGIP and brokerage holdings. Council praised staff for progress; no formal policy action was taken at the meeting.

Why it matters: Preliminary surpluses and improving collection rates affect near‑term budget choices and the city’s ability to fund capital and operational needs; staff noted the figures do not include year‑end accruals that will be finalized in the audit.

What’s next: City and school staff will continue closeout work and submit materials to the auditor on the timeline Miss Jordan described.