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Finance director reports $15.6M in FYTD revenues, council accepts January finance report
Summary
Finance Director Rick Overgaard told the council that through Jan. 31 the general fund had $15,640,015 in revenues (59% of budget) and $8,725,314 in expenditures; the council accepted the finance report after a motion and second.
Finance Director Rick Overgaard presented the city’s finance report for the period ending Jan. 31, 2026, saying, "For the month of January... we have revenues of $15,640,015. That's 59% of budget." He reported fiscal year-to-date expenditures of $8,725,314 (32.9% of budget) and that revenues exceeded expenditures by $6,914,701. Overgaard itemized line items: property tax $4,158,893; sales tax for January $623,700 (fiscal year-to-date sales tax $1,686,613, 5.8% higher than last year through January); and $38,482,238 in city investments.
Overgaard also reported on the debt service fund (January revenues from property tax $362,415 and two debt service payments totaling $1,008,701) and Economic Development Corporation balances. After staff recommended acceptance of the report, Councilmember Tyner moved to accept, a second was recorded, and the council voted to accept the finance report. The transcript records the recommendation and formal acceptance; it does not include individual vote tallies.
