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Finance presents July statements; unaudited fund balance forecasted at about $57.6M
Summary
Finance staff presented July financials showing approximately $31.5M collected to date with a forecast to $33M in revenue; unaudited fund balance is projected near $57.6M with deferred capital projects affecting timing of expenses.
Deborah, the city's finance lead, walked the council through the July financial statements and fund‑balance forecast, saying the city had collected about $31.5 million as of the report and that staff forecast roughly $33 million in revenue for the year. "We are anticipating additional revenues to come in... we anticipate one more month of muni and beach accommodations," Deborah said while explaining variances tied to timing and accruals.
Staff highlighted several deferred capital items that affect the current-year picture, including marina dredging (net zero in timing), drainage projects and a deferred boat purchase moved to a later fiscal year. Council members asked for a one‑page schedule matching anticipated grant revenue to deferred projects so they can see which revenues and expenses carried into FY27.
