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Okolona council reviews midyear finances, hears details on revenues and long-term debt
Summary
Finance staff presented June fund-by-fund figures and an ending balance, and the mayor described long-term revenue-bond payments that are reducing city sales-tax receipts and constraining general-fund cash flow.
Melissa DeBartman, the finance presenter for the meeting, reported month-ending June figures across key funds: “Total general fund revenue, $1,663,634.22 at 67.86%,” and a reported ending balance of $4,121,373.39. The report included department-level totals for police, fire, library, water/sewer and airport operations and showed several funds operating below or above expected percent-of-year levels.
The mayor and council discussed long-term obligations and how revenue-bond payments affect monthly cash flow. The mayor said the city is still making payments on past bond series and noted, “they are taking 0.5 of our sales tax,” which he described as a recurring constraint on available general-fund revenue. Council members asked questions about specific line items and unpaid claims; staff indicated some long-term debt items date back to the 1990s and continue to affect the city’s operating flexibility.
