Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Smyrna financials show $11.5 million general fund, officials flag rising utility costs
Summary
Town staff reported June 2026 year-to-date finances: a general fund balance of $11,500,000, rainy-day investments of $3,200,000, and expected expense increases from higher Kent County sewer rates and a forthcoming trash contract change.
Town finance staff presented the June 2026 year-to-date financial report, reporting a general fund balance of $11,500,000 and rainy-day investments totaling $3,200,000. "Certainly, our bank balances, our general fund is at 11,500,000," said Kathleen (speaker 5) during the report.
Kathleen said general fund revenues year to date are about $10,000,000 against expenses of about $8,800,000, and that water and sewer funds are currently over projections by $326,000 and $747,000 respectively. She told the council that Kent County sewer invoices increased "about 11% as of July 1," and noted that trash expenses are expected to rise with a new contract in September; officials said these increases were anticipated in the budget.
