The Powell Finance Committee met on Tuesday, June 9, 2026, at 7:32 p.m. in Council Chambers. The meeting covered May financial reports, the 2027 estimated resources budget, and the 2025 RITA refund reconciliation. An executive session was held to discuss property purchase. All members except Marcus Banasik were present.
Okay, I will call to order the um finance committee meeting for Tuesday, June 9th. Please call the roll. Marcus Banisik is absent. Jennifer Benefis here. Leave Carlson. Here. Tom Counts. Yeah. And Kurt Ramsey. Here. Sort of a slight uh deviation from the agenda. I'm gonna let Sam introduce our new employee. Yes, I'd like to introduce Tina Birch. She is our new assistant finance director. Um she started with us on May 18th, so she's been here a couple weeks already, getting the hang of things, trying to absorb lots of information and terminology, all the fun stuff. So we're happy to have her and just wanted to introduce her on the record. Glad to have you here. Thank you. Hope that uh they haven't treated you too since last month. Never well, it nice to have full staff. That's great. Okay, the next item on our agenda is the approval of the minutes. They're included in your materials. Does anybody have any additions or corrections? Okay, hearing none, we'll uh prove the minutes by consensus. Um next item is the May financial reports. Yeah, I'll kind of do maybe go over half the pages in the packet. If there's any specific questions that we don't go over, just let me know. But just in the interest of time, we've got lots of good stuff on the agenda tonight. We'll kind of go over high-level some summaries for everything. Um, so good news as of year to date May, our taxes assessments and related revenue is above our budget target. Um, it's at 44.9% of the budget. Our targets 41.6. Um, so the the May cash collections were related to April tax filings, so that makes sense. All the April 15th individual tax filings. Um, so we saw those numbers increase from the prior month, and then we also received our annual retainer refund from um Rita as well. So that is an agenda item. We'll go over kind of this the specifics on that, but um, kind of with our April 15th filings and that retainer refund got us in a good spot compared to our budget. Um, we'll go into a little bit more detail in the tax um collections, but even though we're above the budget target, we're still below last year's year-to-date tax collections. Um, so that's something to keep in mind as well. But we'll see those details later on here in the packet. Um, total operating revenue year to date through May was uh about 10 million dollars. It was 45.3 percent of the budget, so over that target again as well. Um our interest is up five percent year to date compared to last year to date, so that's always good. Um then our operating expenditures year to date through May was 5.2 million, and that was 31 and a half percent of the budget. So that's good. Expenses are under the budget track. Um, a lot of that could be timing some of the other um purchases that were budgeted. Um capital equipment and transfers are a little bit above the budget target, they're around like 55 percent. Um capital equipment.