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Milton finance officer reports general-fund surplus, water-sewer fund shortfall
Summary
Finance Officer Elizabeth Lattime reported the general fund has received $115,523 against a $99,800 budget, leaving an expected year-end saving; the water-sewer fund shows receipts of $135,988 against budgeted receipts of $158,940 and expenses that exceed the budget, creating a projected deficit of about $37,138.
Finance Officer Elizabeth Lattime presented the town’s fiscal-year-to-date numbers and account balances.
Lattime reported the general fund was budgeted at $99,800 and had received $115,523 to date, a positive variance of $15,723; after outstanding checks the general-fund bank balance was $23,378.64 and cash on hand was $24,480.49. For the water-sewer fund, budgeted receipts were $158,940 with actual receipts of $135,988 and expenses of $196,078, producing a remaining deficit of $37,138. The Capital Management Trust balance was reported as $133,686.09 as of June 30, 2025.
Lattime noted the packet included a budget message for the upcoming fiscal year (FY26) signed by the budget officer. The minutes indicate a 3% tax-collection rate and continued monthly sheriff contract of $600; the recorded property-tax base figure for Caswell County was listed as $12,487,494.
Why it matters: the numbers show a healthy general fund position but a stressed water-sewer fund that will require attention from commissioners when considering operations, reserves and any capital work.
The board did not take formal budget action during the July 8 meeting; the figures were reported for review and inclusion in the record.
