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Finance director: no major changes through Q2 but 2023 interest earnings likely explain 177% anomaly
Summary
John Bates told the committee there were no extraordinary movements through Q2; commissioners noted a 'weird anomaly' showing 177% in 2023 that Bates said likely reflects interest earnings and that he will research and report back.
John Bates, assistant township manager and director of finance, told the committee there was nothing extraordinary in the revenue and expense reports through Q2.
Commissioner Dimon Mullen raised a question about "some weird anomaly in '23 with a 177%" figure. Bates said he would look into the anomaly, suggesting the most likely cause was higher-than-forecast interest earnings at the end of 2023: "They probably I would guess that when the budget was passed in '22 that those interest earnings... would not have been probably forecast as we saw a big jump in interest in at the end in '23 anyway. So I'm assuming that's what that was. I would have to dig into that for you."
