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Martin council approves April finance report, annual report and routine payments
Summary
Council approved the Finance Officer's April report, authorized payment of May claims (including $703 to the USDA) and approved quarterly loan payments: $10,866.09 for the water tower loan and $4,502.16 for the water project. The 2024 annual report (total assets $4,432,269; long-term debt $891,490) was accepted.
The Martin City Council approved routine finance business at its May 14 meeting, including the Finance Officer's April report and payment of May claims. The council specifically authorized payment of $703 to the USDA for a lagoon payment and approved the quarterly water tower loan payment of $10,866.09 and the water project loan payment of $4,502.16.
Council member Larry Gauer moved to approve the annual report for 2024; the minutes record the motion carried unanimously. The annual report shows total assets of $4,432,269 as of Dec. 31, 2024, an increase from 2023, and lists long-term debt of $891,490. The council also reviewed outstanding warrants ($10,448) and cash balances including CDs and petty cash ($22,702).
