Lo uh want to go ahead and call to order our finance committee for Monday, December 8th.

Director Burry.

Your first uh item is uh the quarter uh three financial report.

Should I back all the way out?

I haven't saved it in my favorites.

Sorry.

The wind will make a huge difference.

Yeah, like tonight.

Downtown between the buildings.

That's terrible.

Thank you.

All right.

Now we're ready.

Uh so same as every quarter.

We're gonna talk about the general fund and each of the funds that receive the income tax, uh brief summary on the uh capital improvement plan, the income tax trends to the end of the quarter, how our investments are looking, and then a conclusion based on the quarter three results.

So the first thing that we're looking at is the general fund revenues, uh, seeing that we're at an eighty-four percent of what was planned, and there's an eleven percent increase.

Um highlights will be income tax, which we'll discuss uh later on in the in the report.

And then uh just wanted to point out if you remember earlier we kind of talked about the property taxes and the estimates that we get from the county auditor.

You'll see that as we're ending the third quarter, which represents all of our collections, we're at about eighty-eight percent of what was estimated.

That's usually around ninety to over a hundred percent.

So that's why we kind of pulled that number back down if you remember that discussion about the 2026 budget.

And then you'll see that little three percent decrease in interest rates as we're beginning to see kind of those reductions in the interest rates from the feds kind of playing out as investments are maturing, and then as we reinvest them at uh at those lower interest rates.

Moving on to expenditures, maybe.

Uh expenditures are fifty-eight percent of what was planned, and we're at about a twenty-eight percent increase.

Majority of that increase is coming from contract services.

Uh reminder about that five million dollar to the Gehanna CIC for the redevelopment of Creekside, and then seeing that increase in salaries and benefits was what is projected for the year.

Uh looking at the uh fund balance impact for the third quarter, uh, seeing that we're adding back about two point nine million uh to fund balance, ending at about 45 million, eight point six is reserved for encumbrance and nine point one staying for that emergency reserve leaves us with about twenty-seven point three million.

That's uh roughly nine months of of operating expense.

That includes that five million dollar one-time expense, so backing that out or about 10 months.

Any questions on the general fund before I move on?

All right, so next we're looking at how each of the three special revenue funds can pair to the 2025 budget, seeing the actuals in that first column, and then the percentage uh compared to the budget.

Uh each of those with revenue about where you'd expect to be.

Uh looking at expenses, uh, seeing we're a little bit lower on the public service side.

Again, they have some contracts that they're still working on or some projects that uh haven't started.

Uh parks and recreation is where we'd expect to be.

It's uh near the end of their season in quarter three, um, and then public safety, uh seeing that we have a little bit of a drop-off with contract services as we're changing how we're handling that mental health liaison.

Looking at how we compare to 2024, similar results with revenue, seeing um that were increase in revenue uh for the most most part, except for public service, or a little bit of decline there.

Um, expenditures, about 11% increase for public safety.

Uh majority of that is related to that contract service, which will be flipped to that salaries and benefits as we move into 2026.

Uh 14% increase uh on the parks and recreation side, which was expected based on their programming, and then that 31% increase uh for public service, mainly on the contract side, as some of those projects are picking up, and then a slight increase for their salaries and benefits.

As we move on to the capital improvement fund, very similar results to what you saw for the general fund, 80% of planned revenue, uh 10% increase, uh, mainly results from the income tax, and then seeing the capital outlay expenditures uh greatly increased.

That's all related to 825 and the expenditures that are going for that project to be finalized.

Uh looking at the end, we're about uh 40.6 million in fund balance with 27 of that reserve for encumbrance as those projects will continue, and some of them will roll into uh 2026.

This is just a quick listing of where we are by project.

Uh we have about 36.2 million of actual capital outlay for uh 2025 through the third quarter, and about 35 million in encumbrances, and that's across all funds.

The next slide just gives a breakdown uh between the slides, uh, seeing that the majority of that is happening in the capital improvement fund as you would expect income taxes, uh trending withholding is trending very close to where we thought we'd be, about that five percent increase.

Still seeing uh those spikes with the individual net profit.

We'll continue monitoring those to see if that will continue on or if those are anomalies on the net profit side, it's a little bit hard to pin down.

Uh could be five-year losses rolling off, could be generalized growth or a combination of both.

Um, but are seeing that that those two are a little unusual through the third quarter, um, a little bit higher than we would expect.

So we'll continue to monitor those.

Uh looking at our investments, uh, majority is invested in Star Ohio, and in accordance with our investment policy uh interest rates through the third quarter.

Star Ohio was about 4.4 percent, and our portfolio is a little over four.

Uh they just did a recent uh 25 basis point reduction in October.

There'll probably be one more in December, uh, bringing those interest rates back down.

And then conclusion through the third quarter, we're seeing inflation relatively unchanged, uh, which is why they're a little bit cautious about those rate reductions, but they're they are still planning on one in December.

Um we still have the federal policy that does have potential impacts for trying to see how that is going to play out.

The property tax reform that we're seeing right now going through the legislator is mainly focused at schools, um, but typically they start at one area and then that kind of spreads.

Uh so just monitoring that legislation and seeing how that's going.

Um, and then knowing that you've all approved our Gehanna, so seeing that direction over the next few years come to play.