Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Treasurer: July revenue up but large insurance payment skews monthly results
Summary
The district treasurer told the board July revenue rose 3.3% (including $199,000 in property taxes and $13,000 in investment interest), but a $456,000 property and casualty insurance payment produced a one‑month swing in expenditures; the board approved the financial report unanimously.
The district treasurer presented the July financial report Aug. 12, telling the board that overall revenue increased 3.3% year over year due largely to a $199,000 increase in property taxes, $23,000 in omitted taxes and about $13,000 in additional interest income.
He also warned that expenditures for the month appeared to spike because the district paid $456,000 for property and casualty insurance in July this year but had not paid it in the same month last year. "When you take that out we still had an increase of 16.8%" in some accounting lines, the treasurer said, but he emphasized that the large insurance payment explains much of the month‑to‑month difference. The treasurer also reported a refund of roughly $43,954 on unemployment insurance following an audit and said a small workers’ comp refund may be forthcoming.
The treasurer noted salary and benefit costs rose about 5.8% compared with the prior year, reflecting a previously approved step increase. After discussion the board moved to approve the financial report and the motion passed by unanimous roll-call vote (Jason Collins, Scott Brown, Steve Carmichel, Sunny Fant, James Sergeant).
