The Powell Finance Committee met on Tuesday, May 12, 2026, at 7:00 PM in Council Chambers. The meeting covered financial reports for March and April 2026, a treasury management presentation by three+one, a review of proposed zoning code fee schedule changes, and Q2 2026 supplemental appropriations. The committee discussed revenue trends, cash position forecasting, and fee simplification. No formal votes were taken, but consensus was reached to advance the zoning fee schedule and to continue reviewing supplemental appropriations.
I will call this meeting of the Powell Finance Committee to order. Please call a roll. Marvin Banisek here. Jennifer Benefits. Here. Carlson here. All counts? Here. Kurt Ramsey. Here. Okay, the minutes were included in your materials. Are there any additions or corrections to be made? Hearing none will approve the minutes by consensus. Next item on the agenda is the financial reports. Sam. All right. I'll take it away with April, just kind of catch us up on the most recent month for the sake of time. But if anybody has any specific questions about March, we can look at that as well. But I'll go over April year. So as of April, year to date, our total operating revenue was 7.2 million. This was 32 and a half percent of the budget, so it's a little bit slightly under our target of 33.3%. Our taxes assessments and related revenue at 6.2 million. We're still below our target there. That was at 31.3% of the budget under the target of 33.3%. But we're doing fairly well with other revenue. You can see there 46% of the budget. Our interest revenue is up 12% compared to 2025. I'm sure we'll get into that a little bit in our our next agenda item too. But our uh so revenue is still still looking pretty good for the for the year here. I'm sure we'll after next month, we'll probably get a better idea on how tax receipts might shake out for the year with the April tax filing deadlines. We'll see that in March reporting, or excuse me, May reporting. Um so I think after next month we may have a better idea of how things are gonna shake out for the year. I chuckle when you said that uh revenue was 7.2 million, and prior to 2021, that was the entire year's revenue that we had. Yeah, it's crazy. Umberating expenditures year to date 4.2 million. Um that's below our target, it's at 25.7 percent of the budget, which is good. That's expected with um expenses. Um I'll kind of highlight the transfers. They're at 2.5 million for the year at 38.7 percent of the budget. It's a little high. Um, we had a little extra cash flow in April, um, so we use that cash flow to transfer out to the capital projects fund to transfer to the street maintenance fund for some of our upcoming larger um capital expenses that we'll run. But still with that total expenditures year to date 7.2 million, and that's 29.8 percent of the budget. Um for the year, our net cash flow basically flat. Um, it's a little bit um under zero there, so there's kind of excess or deficiency of expenses over revenue there, which is about six thousand dollars. So any questions on that first question? Yes, no, okay. All right, cash balances, all funds as of the end of April, 51.6 million. This was uh 2.6 million increase from year end. Um I'll highlight that we received our semi-annual um property tax receipts from the county. That was about 1.75 million for all funds.