Finance director reports mid‑year revenues, bond draws and FEMA reimbursements

Finance staff presented the mid‑year investment and revenue report, noting timing effects in property tax and sales tax and the use of bond drawdowns. The presenter said the city received $5.3 million in property tax receipts and recorded a $6 million general obligation debt payment in March, which roughly offset those inflows; bond proceeds drawn for projects were placed in the TechStar pool.

The finance presenter said the city has received about $450,000 to date in FEMA reimbursements related to a past hurricane and indicated that reimbursed funds go back to the general fund unless council directs otherwise. On revenue surprises, the presenter discussed recyclable value recovered from replaced meters and said the recycling line showed a strong amount. "We received 450,000 so far to date," the presenter said of FEMA funds; he also described meter salvage producing tens of thousands of dollars in recycling revenue.

Staff provided additional operational details about water and sewer budget positions, meter exchanges completed in March, and that hotel occupancy tax revenue is approximately 51% of budget year‑to‑date. No policy actions were taken; the presentation was informational in advance of budget deliberations.