Speaker numbers apply only to this recording.
The Finance and Personnel Committee met on September 28, 2026, to review the August 2026 financial report, the June 30, 2026 quarterly investment report, two infrastructure change orders, and a series of contract renewals, bid awards, and bid rejections. All action items on the agenda were approved by voice vote, and no public comments were reported.
All right. Welcome to the finance and personnel committee meeting held tonight. Monday, September 28th, 2026. Sir Clerk, will you please take roll? Ross. Here. Granted. Here. President. Thank you. First time under information only is a financial discussion for August of 2026, Ms. Hagerty. Yes, sir. Thank you. So general fund revenue performance continues to improve in our July year-to-date report. We were reporting um 2.2% under budget or 2.7 million in at the end of August. We're 1.5 million under, or excuse me, 1.5% under budget or about $2 million year to date. The bulk of that in uh replacement taxes we previously discussed, so that margin is uh shrinking for PPRT, uh same for sales tax, which was uh two point five percent under budget last month and currently one point nine percent under budget. So we're looking at some recovery on the revenue side as uh we move through the balance of the fiscal year. Um the expense side, we have um we're uh approximately three point nine million under budget year to date or two point seven percent. Um that's largely driven by the police and public works departments. Uh the fire department is showing a approximately three point three million dollars over budget. Uh a significant portion of that is due to um equipment purchases and capital improv excuse me, capital improvements that have um re are reimbursed from either lease proceeds or uh the the casino funds. So just wanted to point that out that um the bulk of their uh budget overage it does have a specific revenue source to cover that. Um generally in the uh on the expense side we're projecting currently our uh year end sorry, advanced a little too far here. Year end about two point seven million under budget year to date based on the information we have so far uh this year. Um as to CAP funds, uh CAP sales tax is performing very well. Uh 15% over budget or about 1.7 million dollars. Um we're looking at 11% over budget year to date or just under 1.8 million in the CAP in total. Uh redevelopment fund is uh actually three percent under budget, uh, largely due to underperformance and package liquor and restaurant uh tax revenue. And casino tax revenue is uh is pretty much right at um expectation uh to hit that seven million dollar annual guarantee so far this year. Happy to answer any questions anyone has. I've been just listening to the news all over the country. It sounds like alcohol consumption is down all over the country in is that what you just indicated that we're also impacted by that? Yeah, so our uh package liquor tax uh, which is one percent on total package liquor sales is down about eighteen percent um uh or ninety-three thousand dollars off of our projection, our our budgeted numbers for the year. Yes. Are you anticipating even more? I mean with the you know that depends on, you know, uh uh uh we don't necessarily have an idea on where the the market generally is going. Um I would expect if this is the trend we're seeing thus far that that will likely continue through the the rest of the fiscal year. Thank you. Uh thank you for allowing me to speak on your committee chairman. Um Director Hagerty, how much is uh projected to be reimbursed from the fire department's capital investments this fiscal year? Uh we have um give me one second. I'm uh moving to their uh detailed budget page here. And you can see we have uh just over two million dollars in vehicle and operating equipment uh spent to date, and that it that will be reimbursed by um proceeds from lease executing tax exempt municipal leases. Um if you recall, we budget the equipment and the revenue to offset that.