ALL DEPARTMENTS ON-TRACK
CITY FINANCES 6-16-21 LMS
Finance Director presents city finance report.
This budget year is over the half way mark. General Revenues stand at 72 percent of the projected budget and General Expenditures are at 67.1 percent which according to City Finance Director Amy Fealko means finances are right on track.
She told the June 16 meeting of the Salmon City Council that 73.4 percent of property taxes have been collected which totals almost $600,000 in the General Fund. Half of the State Revenue-Sharing Sales Tax, $202,000, and just under half of the projected Liquor Revenue, approximately $50,000, has been received.
Under department headings Administration is at 92.3 percent which is due to the unexpected costs related to the COVID-19 virus. That budget will be revised as soon as all expenses and funding payments are tallied.
The city is no longer paying the county for Planning and Zoning administration services and Association Management Solutions are in the process of updating the Comprehensive Plan.
The Sacajawea Center is at 50 percent of its projected budget and the Police Department has spent 70 percent of its budget. The figures include the vehicle purchased this year. The Salmon Valley Center budget will also have to be adjusted due to the unexpected piping repairs under City Hall.
Fealko said the Cemetery budget is on track with revenues at 58.7 percent of its projections and expenses at 48.3 percent. Streets and Alleys revenues are at almost 80 percent of projections and revenues are at 74.2 percent. The Local Option Tax is probably another department that will need adjustments since the revenue for each month lags behind the other reports. Its revenue for the year so far, through April, was almost $58,000 which does not count the busy months of Summer.
Water & Sewer is on track with 65 percent and 67 percent of revenue. The total cash balance is $5,921,780. Councilor Robin Phillips asked if part of that sewer amount could be moved to the water fund and Fealko said it can’t because each is an Enterprise Fund, or separate business entity. The water rate is higher than the sewer rate to give more revenue to the water fund. She said that $1.8 million appears to be a lot but in the event of a catastrophic repair, that money would be spent very quickly.
On another business topic, the Greater Salmon Valley Chamber of Commerce asked the city for a donation of $1,500 to help fund the 4th of July fireworks display. The council approved the yearly donation and Jen Smith, Chamber representative, thanked the city for its support. She said the display costs around $5,000 with materials and insurance and sponsors are still being sought.
The 4th falls on Sunday this year and that will be the night for the fireworks show which will take place on Discovery Hill.