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Finance director reports revenues near budget but flags building-inspection overrun
Summary
Finance Director reported year-to-date revenues of about $1.85M against a budget near $1.9–2.0M (revenues tracking ~73% through December) and recommended an adjustment to the building-inspection/professional services line due to higher contractor costs during a vacancy.
Finance Director (S1) reported that year-to-date collections stood at about $1,850,000, with budgeted revenues near $1.9–2.0 million; on a December snapshot, revenues were tracking at roughly 73%. S1 said most lines were tracking where expected but identified the professional services building-inspection line at 88% and recommended a midyear adjustment to cover costs tied to using outside contractors during a vacancy.
Committee members asked where adjustments would come from and whether contingency funds could cover the overrun; S1 said contingency and other departmental lines would be examined and that staff will present a budget adjustment at the next meeting. "I think we definitely need to make another adjustment. We shouldn't be letting it go," S1 said of the building-inspection line.
