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City finance director reports $111 million in city bank accounts, reviews sales-tax trends
Summary
Wyatt, the city's finance presenter, reported the city's total bank balances at $111,000,000 with the general fund at $24,000,000 and water and sewer at $22,100,000; he also reviewed sales tax totals for 2023–2025 and year-to-date 2026.
Wyatt presented the finance packet and walked the council through key figures. He said, "In total, we have 111,000,000 in the bank accounts," and noted the general fund balance of $24,000,000 and the water and sewer fund at $22,100,000 as of July 31. He reviewed calendar-year sales tax totals for 2023 ($16.2 million), 2024 ($16.9 million), and 2025 ($18.4 million) and said year-to-date 2026 is tracking toward the previous year's average.
Councilmembers asked whether a February tax jump could be explained; Wyatt said he would look into it and noted the city's reported revenue runs two months behind. Council praised finance and economic development for maintaining revenue trends.
