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Fairport ends FY25-26 close to projections; general fund shows $3.17M balance
Summary
Staff told trustees the village closed fiscal 25-26 close to projections with a total fund balance of $3,174,648 (about $2.6M unassigned), revenues above budget by $370,000, and capital spending of $5.9M funded largely by federal aid.
Village staff presented the FY25-26 financial statements and said the village came in near projections, with a total fund balance on May 31, 2026, of $3,174,648 and roughly $2.6 million in unassigned fund balance. Staff noted revenues exceeded budget by about $370,000 (104% of budget) driven principally by sales tax and several one-time recoveries.
The treasurer/staff walked trustees through items driving transfers and budget amendments, including higher-than-expected audit fees, bond issuance costs, legal expenses, central garage repairs (partially covered by insurance recoveries), police personnel reclassifications (regular to overtime), and sidewalk scheduling that shifted cost across fiscal years. For capital work the village invested $5,900,000, of which $3,000,000 was federal aid, $1,000,000 CHIPS/state allocation, $968,000 from reserves and $795,000 from bonds. Staff cautioned figures are unaudited and the formal audit begins August 10.
"The balance of the general fund on 05/31/2026 is ... 3,174,648," staff said during the presentation, adding the final audited numbers will be returned to the board after the audit. Trustees asked about the effect on the 26-27 outlook and staff said planned reductions will accommodate prior transfers and emergency repairs without jeopardizing reserves.
