FARR WEST -- The budget is meeting expectations halfway through the fiscal year, City Treasurer John Cardon recently told the city council in his financial report.
There are a few issues to consider as the council establishes a new budget.
Cardon said Engineer Kent Jones is working on an impact fee study that needs to be completed.
He also suggested the council meet with department heads in a budget session and consider putting vehicle replacement on a schedule.
Cardon also said the council should consider any employee raises for the coming year before putting together the new budget.
Council members voted unanimously to accept the financial report.
Cardon said the city has about $154,000 in its checking account and approximately $1,519,000 in the Public Treasurers Investment Fund.
He said there is a little more than $1,000 in restricted storm drain funds and around $186,000 in restricted sewer funds.
Cardon said restricted funds are regulated by state law, and the sewer impact fees can be used only to increase the capacity of storm drains or sewer systems.
Cardon said the city has $330,000 available in a capital projects account.
The city has $33,800 set aside for the Fourth of July Freedom Festival.
The total amount in unappropriated funds is approximately $325,000.
"That's a good, healthy balance there," Cardon said. "The general fund is doing well."
Property tax already received is at about 85 percent, with most of the money paid by December, he said.
Administrative costs are at 53.7 percent, and the cost of insurance is affecting that, but with the city paying that bill at the first of the year, it was where it was expected to be, Cardon said.
Public safety spending was at only 28.7 percent of the budgeted amount.
Cardon said this is billed quarterly, so the city has received only one bill so far this fiscal year and can expect to make another $67,000 payment.
Total fund expenditures are at 46.3 percent, he said, but with the payment for law enforcement, they will be pretty close to 50 percent.
Cardon said the sewer fund assets are healthy with $2.6 million, but because of an expansion, costs have increased.
The total book value of the city assets is almost $11 million.
"Overall," Cardon said, "we are very close to budget this year."