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Council approves Bay City quarterly financial and investment report (Jan–Mar 2026)
Summary
Council approved the city's quarterly financial and investment report showing revenues of about $12.1M through March (≈60.7% of budget), sales tax down ~3.12% vs. prior year, and a portfolio book yield of about 3.84% on $28.9M invested assets.
Bay City council approved its quarterly financial and investment report for the period ending March 31, 2026, following a presentation by Finance Director Jennifer Davis.
Davis said city revenues totaled about $12.1 million through March (roughly 60.7% of the annual budget) and highlighted that property tax collections were about 90% of budgeted property tax receipts. She noted sales-tax receipts were down about 3.12% for the quarter (approximately $60,853) compared with the same quarter last year, though April showed a modest increase of 0.64 percent. On investments, Davis reported a weighted-average portfolio duration of about 100 days with an average book yield near 3.84% and invested balances around $28.9 million.
Council discussed potential budget amendments later in the year tied to timing of expenditures and capital carryovers; the council voted to approve the quarterly report and investment summary.
