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Hope posts Q1 financial snapshot: property tax commitment $4.84M, 76% of revenue collected
Summary
Finance presenter Shani Dennison reported the FY26 property tax commitment is $4,843,600.92; total budgeted revenue $7,008,110.92 with 76% collected year-to-date; total expenses budgeted at $5,876,373 with 43.69% spent YTD; cash & investments total $2,527,669.94.
At the Dec. 9 meeting, Shani Dennison presented the town's first-quarter financial report for FY26. She reported the property tax commitment for FY26 at $4,843,600.92 and said total FY26 budgeted revenue is $7,008,110.92, with 76% collected year-to-date.
Dennison noted automobile excise tax collections are behind last year: a $400,000 budget with $132,116.83 collected in Q1. On the expense side, the FY26 expense budget totals $5,876,373 with 43.69% spent so far. The balance-sheet snapshot as of Sept. 30, 2025, showed total assets of $4,728,082.51, liabilities of $271,238.13 and a fund balance of $4,456,844.38. Cash and investments totaled $2,527,669.94; primary checking held $1,759,004.26 and the general reserve $630,991.63. Dennison noted the Solar Reserve dipped due to a recent solar purchase.
The figures were presented for informational purposes; no budget vote occurred at the meeting.
