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Finance director reports water revenues near $5.75M, sewer funds over budget
Summary
Finance Director Kevin told the commission that packet revenues show $5,726,466.20 for water and that recent interest postings have raised the water totals to about $5.75 million; the sewer fund is about $150,000 over its $3.1 million budget. Staff said several year-end accounting transfers remain to be completed.
At the meeting the commission received a monthly finance report from Finance Director Kevin, who reported packet figures showing water revenues of $5,726,466.20 and said interest income for June — initially posted at $135,002.45 — has pushed the interest line "now north of $156,000," bringing the water totals close to $5.75 million. Kevin told the panel the prior year had higher collections and cautioned that the numbers are unaudited as the town prepares its 2024 audit; he said some accounting entries will be reconciled in the coming weeks.
On the sewer side, Kevin reported the sewer fund has collected roughly $3.3 million on a $3.1 million budget (about $150,000 over). He noted open purchase orders and that a $375,000 replacement-reserve transfer will need to move into capital funds. Commissioners discussed the timing of transfers and an upcoming reconciliation in August or September; Kevin said staff will present the transfer approvals when final reconciliations are complete.
