Summary
To: Mayor Gary H. Katica & Commissioners
From: JP Murphy
Date: 11/29/2019
______________________________________________________________________
Subject:
Title
Discussion of Fund Balance Projections of FY18-19.
Summary:
At the 11/19/19 Town Commission meeting, the commission requested more information regarding projected fund balances for fiscal year 18-19. Attached you will find an unaudited projection of the changes in fund balance for all funds. The General fund is projected to have a surplus in excess of $36,000. The Water fund, spurned on by increased consumption and interest revenue, will realize nearly $381,000 dollars of surplus. The Solid Waste fund will end in a deficit of approximately $48,000 due to increases in tipping and recycling fees. Town wide for all funds there is a projected surplus of nearly $176,000. Staff will present an overview of the projections and answer any questions that arise.
End
Body
Previous Commission Action: N/A
Background/Problem Discussion: N/A
Expenditure Challenge: N/A
Financial Implications: N/A
Recommendation: N/A
Proposed Motion: N/A