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Treasurer previews draft budget, cites $270,201.63 general fund balance and loan scenarios
Summary
Treasurer Sharon Long walked through a draft next-year budget using trend-based estimates back to 2021, suggested a code-enforcement salary line, and noted a general fund balance of $270,201.63 and state fund of $92,813.93; she recommended members review and return with comments next month.
Sharon Long, identified during roll call and described by the Chair as treasurer, presented a draft of the next fiscal year's budget and explained the approach she used, noting trend-based adjustments dating to 2021. She said she increased some revenue estimates and added a line for code enforcement salary and supplies, but left some items blank pending further input from the board.
Long described a possible building loan scenario: she said she consulted Nextiva Bank about terms for a $300,000 loan and relayed that current rates are about 5.2 percent, with an estimated 7-year payment "like, 51,000 and some change" and an 8-year option closer to $50,000. She gave specific account balances on the record: "In the general fund, we have $270,201.63. In the state fund, we have $92,813.93." The treasurer and Chair agreed members should review the draft on their own and return with suggested changes at the next meeting rather than walk the budget line-by-line tonight.
The treasurer also noted the liquid fuel allocation is projected to be slightly lower next year than this year based on the state letter (she relayed an anticipated change from 133 to 130 in the allocation figure). No formal budget adoption or vote occurred; the item will be revisited after member review.
