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Anthem reports midyear surplus and property sales; board approves staff reports and financials
Summary
Anthem’s finance staff reported a June operating surplus of $310,000, four commercial property sales totalling $18.4 million, reserve spending on track (47% of projected $4.6M), and a 2027 budget timeline. The board approved staff reports and financials by voice vote.
Jennifer presented the ACC’s June financial summary and projections and the board approved the reports in open session.
Jennifer said the council had a consolidated operating surplus of $310,000 through June — $326,000 favorable to budget — and that revenue was about $41,000 above budget year‑to‑date, driven by enhancement and resale fees. She reported four commercial property sales totaling $18,400,000 and noted operating expenses were favorable to budget by $284,000. On a consolidated basis the ACC carried a $790,000 net loss for the year, primarily driven by $637,000 of depreciation (a non‑cash expense).
On reserves, Jennifer said about $2,200,000 of the $4,600,000 projected reserve expenditures had been spent through June (47% complete) and enhancement spending was $130,300 (24% of planned). She said budget workbooks had been distributed and draft budget reports would be available by mid‑August, with a board budget session scheduled for Sept. 9.
A director moved to accept the staff reports and financials; the motion was seconded and approved by voice vote with no opposition. The board did not modify the reports at the meeting.
