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City reports revenues outpacing expenditures by about $1.27 million at midyear
Summary
City finance staff told the council that through the midpoint of the fiscal year (03/31/2026) revenues are about $1,270,000 higher than expenditures, with property taxes, water/sewer and sales tax performing well while FEMA and some grant revenues are lagging due to timing.
City finance staff provided a midyear financial overview covering the quarter ending March 31, 2026. The presenter reported departmental spending at about 48% year to date and told council that "revenues are currently outpacing expenditures by about 1,270,000," citing strong performance in property taxes, water and sewer, sales tax and interest income. Staff noted some grant and miscellaneous revenues were below projections because reimbursements and projects are still in timing-sensitive phases, specifically FEMA reimbursements that have not yet been received.
The presenter listed capital investments under way, including new playground equipment, generator and pump station upgrades, and technology/facility improvements such as council-chambers audio upgrades and ongoing implementation of Tyler software. Council members asked clarifying questions about the miscellaneous category and hotel-motel revenue timing; staff said the miscellaneous balance included capital reserves (~$2.5 million) and FEMA receivables (close to $2 million). Members praised departmental fiscal stewardship and had no request to adopt or amend the midyear report at this meeting.
Next steps: staff will continue aggressive collections and return additional updates as grant reimbursements arrive.
