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Council adopts final FY26 quarterly report; adjusted ending cash balance $678,542.29
Summary
The council approved Resolution 20 26‑25, the final FY26 quarterly (0.25) financial report, which shows an adjusted ending cash balance of $678,542.29 after required reserves.
The Town of Silver City adopted its final FY26 quarterly financial report on July 29, approving Resolution 20 26‑25.
The business operations manager summarized FY26 results: the general fund began with $1,260,376.24, reported total revenues of $18,000,008.22 and expenditures of $15,000,207.09, yielding an ending cash balance of $1,945,874.83. After the state‑required reserve of $1,267,332.54, the adjusted ending cash balance is $678,542.29. She noted steady improvement over the fiscal year: prior quarter balances rose from cents and hundreds to the current six‑figure level.
A motion to approve the final quarterly report was moved and seconded; a roll call recorded ayes from Councillors Salais, Kritz, Schneider and Nunez and the mayor announced the motion passed. Councilors and staff discussed reporting cadence with the Department of Finance and Administration, and staff reported DFA removed the town from monthly reporting after the improvement in quarterly results.
