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Avon monthly finances show strong revenues and interest income, officials say
Summary
Finance Director Tom DiStasio told the Board of Finance that General Fund revenue collections were at 94% of budget as of March 31, 2025, interest income is driving other local revenues, and the town received $349,000 in open choice grant funding in March.
Finance Director Tom DiStasio told the Avon Board of Finance on April 28 that the town’s General Fund revenue collections stood at 94% of the overall budget for the period ending March 31, 2025, and that interest income remains “the driving force behind the other local revenues revenue category.”
DiStasio reported the town received $349,000 of open choice grant funding in March and said interest earnings are boosting local receipts. He also reported that, on a straight pro rata basis for the fiscal year-to-date, General Fund expenditures are running at about 73.92% of budget, compared with a raw 77.84% figure that does not prorate timing of large expenditures. "We received $349,000 of open choice grant funding in the month of March, and there'll be more coming in April," DiStasio said.
Board member Kathleen Johnson highlighted a specific line item in other local revenues and said that, if trends continue, that line could reach about $2.565 million at year-end versus the budgeted $1.228 million — a variance she described as significant and driven largely by one $900,000 component referenced in the packet.
The report was presented as part of routine financial business; no formal action was required beyond accepting the monthly report. The board will consider the fiscal-year schedule and the upcoming audit timeline in subsequent meetings.
