City presents June financial snapshot showing strong reserves and midyear revenue increases

Finance Director Matthew Mesisklis reviewed the June 30, 2026 financial snapshot, which lists a total book fund balance of $44,583,086 and a total bank statement balance of $44,657,483. Major revenue lines showed year‑to‑date strength: income tax net revenue and receivables and major sources totaled $8,659,991 of an estimated $16,913,001 (about 195.3% of an annual baseline in the packet), and specific line items such as income tax, property tax and other service revenues were itemized in the posted snapshot.

Mesisklis explained the difference between property valuation increases and tax‑bill changes: "the 22% figure refers to the average increase in home values, and that some areas may see higher or lower valuation increases...a 22% valuation increase usually results in an actual property tax bill increase of approximately 10% to 13%, depending on the property." He also walked through fund balances, reserves, and capital project spending through June 30, 2026 (for example, Fund 234 capital improvement spending on the Trenton Community and Municipal Complex totaled $16,273,066 through 6/30/26 as presented in the packet).

The financial appendix included line‑by‑line fund balances, major revenue categories, bank balances, and invoices for the Miller‑Valentine design‑build project; Council accepted the snapshot as part of the meeting record.