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Tega Cay council reviews $19.4 million general fund forecast, agrees to set capital reserve and revise leases
Summary
City staff presented a $19.43 million general-fund revenue forecast, proposed deferring several capital items and recommended paying off a capital lease while creating a $300,000 capital projects reserve; council asked staff to update spreadsheets for Monday review.
City staff presented council with a draft general-fund budget that forecasts $19,429,432 in revenue and proposes no new headcount for the coming fiscal year while recommending several capital purchases be deferred.
The city manager told the council items highlighted in red are “things that we’re recommending that we do not fund for this fiscal year,” and walked through department-by-department operational and capital requests including fleet replacements, parks upgrades and public-safety needs.
Finance staff outlined a plan to strengthen reserves and change how capital is funded. The proposal calls for paying off an existing capital lease (which would eliminate roughly $140,000 in annual lease payments), establishing a $300,000 capital projects reserve and packaging a new capital lease for equipment. City staff said the general-fund portion of the new lease would be about $493,100; stormwater and utility funds would carry their proportional shares.
Council members asked for clarification on revenue assumptions, particularly property-tax numbers that depend on a county assessment report due in August–September. The manager cautioned some figures could change when the county finalizes assessments.
Staff also noted some one-time and recurring adjustments: the budget builds travel and training capacity for council and staff, assumes only realized grant revenue is recognized, and treats restaurant license fee income from the Garrison as general-fund revenue while showing Glennon Center maintenance costs in the same fund for transparency.
The city agreed to revise the general-fund spreadsheet to show the finance team's adjustments and to re-upload the updated files for council review ahead of the next meeting.
