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Finance director reports six-month results: expenses below budget, interest income lags forecast
Summary
Council reviewed the March financial report showing six-month operating expenses of $196,008.87 against a $479,006.06 operating budget and interest income of $38,002.12 versus a $70,000 budgeted figure; water sales at Elliott Ranch improved by roughly $30,000 year-over-year for the six months.
The council reviewed the financial report for March (and February) 2025. The reporting official said operating expenses for the six months (excluding the capital cost for the well) were $196,008.87 compared with a budgeted $479,006.06, noting the city’s expenses were well under budget for the period. The report also showed interest income budgeted at $70,000 while "our actual income is $38,002.12," the official said.
The presenter highlighted improved water sales at Elliott Ranch, stating those sales were about $30,000 higher over the six-month comparison period. Council members used the discussion to confirm that the city is operating within budgeted expense levels and that interest-rate conditions have affected investment income. No formal budget amendment or tax-rate decision was made during the meeting.
