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Final FY26 report: Silver City ends year with $678,542 in adjusted cash balance
Summary
Finance staff told the council the town closed FY26 with an adjusted ending cash balance of $678,542.29 after required reserves; DFA removed the town from monthly reporting after improvement.
The business operations manager presented the town's final FY26 (4th 0.25) financial report and said the general fund ended the year with an adjusted cash balance of $678,542.29 after reserving the required 1/12 of expenditures ($1,267,332.54).
"For the general fund, the beginning cash balance, starting of April was $1,260,376.24. We had total revenues of $18,000,008.22 ... expenditures totaling $15,000,207.09 ... with an ending balance of $1,945,874.83," the manager reported. Staff reiterated that the town's cash position had improved substantially since earlier quarters (from $0.64 and $0.93 in earlier 0.25 periods to more than $279,098 then $678,542.29 at year-end). The manager also noted the DFA removed the town from monthly reporting due to improved results.
Councilors asked clarifying questions on debt-service chargebacks to the water fund and whether any excess could be reserved for future capital; staff said prior practice used remaining balances to cover deficits but that they could consider setting aside funds for major renovations in the future.
