Treasurer reports $1.26 million in town funds; highlights VDOT reimbursement and event revenue

Town Treasurer Marilyn Barton provided the council with a written financial report for the period ended Sept. 30, 2019 and attached the issued audited financial statements for the fiscal year ended June 30, 2018. Barton highlighted the town’s Summary of Cash Balances reporting total funds of $1,260,018.23 and noted that interest for Sept. 30 had not yet been posted by the banks.

She reported that John Marshall Bank CDs maturing Sept. 19 were transferred to United Bank and two new seven-month no-penalty CDs were purchased at 2.1% APR as previously approved. Barton said the town had moved $50,000 from checking to a money-market savings account in September and that staff planned to request cash-flow input from the Special Projects Committee prior to further FY2020 investment decisions.

Key items called out in the September reports included a $10,000 state passthrough for Fire Program funds to be distributed to Fairfax County Fire Department, $6,500 in Haunted Trail sponsorship receipts year-to-date and a $12,288.75 reimbursement from the Commonwealth (VDOT) for the Town’s Streetscape Phase II Invoice #11. Barton also flagged contractual expenses for the Community Hall and pending BZA attorney fees received on Sept. 30 for council consideration.

The Treasurer attached detailed profit-and-loss and CIF (Capital Improvements Fund) schedules showing Streetscape Phase II activity, engineering invoices awaiting committee approval, and other line-item detail.

Council recorded the Treasurer’s Report and approved recommended invoice payments as part of the meeting’s consent actions.