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Milton reports revenue above target, transfers ARPA funds into water/sewer account
Summary
Milton officials told the board July 11 that General Fund revenue stood at 102% of target through June 2023 while expenditures were 89%, and that $20,000 in ARPA funds were transferred into the water/sewer fund; bank balances and reconciliations were presented.
At its July 11 meeting, the Milton Board of Commissioners received a finance report showing the town’s General Fund revenue at 102% of the year-to-date target and expenditures at 89% through June 2023.
Finance Officer Sharon Williams told the board total revenue versus expenses at the end of June was $30,000. She said no monies had been transferred this year into the Water Fund specifically, and that the Water/Sewer Fund showed revenue at about 100% and expenditures at 82% after reserving ARPA funds. The record shows a transfer of $20,000 into a Capital Management Trust account and an additional $20,000 moved into the Water/Sewer Fund (described in the meeting as ARPA-related).
Sharon Williams also reported bank-reconciliation balances: General Fund approximately $29,158.73 at the end of June and $28,488.00 as of the prior Tuesday; Water/Sewer fund approximately $50,575.00 at the end of June and $49,384.00 as of last week. She noted SCIF Fund interest for May 2023 and provided the Capital Management Trust balance after a transfer.
The board accepted the finance report without recorded objection.
