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Council reviews cash report and closes fiscal year appropriations
Summary
Council reviewed monthly cash and collections, including cannabis sales tax and a $46,000 drawdown tied to timing of an annual loan payment, and completed a July-to-June appropriations review with no departments over budget after adjustments.
Finance staff presented the monthly cash report and an appropriations review for the fiscal year ending June. The report noted healthy collections for the month and some one-time expenditures that included a grant-funded slip tank installation; staff said a timing difference produced a $46,000 drawdown related to the annual loan payment.
A staff speaker said, "you see a 30 day change in cash that that $46,000 drawdown... normally we pay our loan payment one time a year as in February. It took them till last month to actually take the money out." Council moved to approve bills as presented and staff said after the prior month's changes there were no departments over budget in the completed year-end appropriations review.
