(6/25) The Town Council approved the adoption of mid-year budget amendments for the current fiscal year at the May 6 meeting. The amendments ordinance took effect on May 13.

The mid-year budget amendments reallocate funds that no longer match their prior estimations in the budget as is. Prior to her retirement, CFO Linda Joyce presented the amendments ordinance at the April 29 meeting for revenue and expenses from the General Fund, Wastewater Fund, Water Fund and Electric Fund for FY-25. The new CFO Suzanne Saxton was present at the May 6 meeting, but the Town Council did not need any clarifications from her before their vote.

"I thought it would be best to do ones that are pretty obvious right now and then later on through the year, when we can get a better feel for where we are at the year end, which is right around the corner, we can do the rest of them," Joyce said.

The amendments for each fund covered unanticipated revenue from interest earned after transitioning to a sweep account. The amendments also allocated for the bank fees expenses as a result of the change. The Town initially anticipated $70,00 in interest earned for the General Fund but are now estimating $145,000 in interest revenue. Joyce expects $3,000 in interest earned from each of the remaining funds, as noted in the amendments.

The additional interested earned in each fund will be transferred to the unrestricted fund balance. The unrestricted fund balance will then cover the bank fees: $8,800 for all four funds. Joyce explained to the Board that creating these amendments for audits and closing the end of year books, even though the revenue replaces the expenses in the unrestricted fund balance. "It shows that we’ve been monitoring our budget throughout the year," she said.

The General Fund incurred two additional unanticipated expenses outside of the bank fees during the current fiscal year for camera licenses and maintenance as well as building repairs. The new cameras, used for public safely, will incur $6,000 in monthly fees for their license for usage and for any maintenance needed to keep the cameras working. Joyce suggested using the funds allotted for meetings, training and travel; travel expenses; and contractual to cover the unanticipated monthly camera fees. Chief David Armstrong discussed the monthly fees to operate the cameras at a previous meeting.

For the R&M Building repairs, costing the Town $5,000, Joyce suggests transferring funds from recruitment, uniforms and contractual. The R&M Building houses police headquarters, but it’s not immediately clear what the needed repairs were.

The amendments also included the replacement the Town’s office phones, another unexpected expense not included in the original budget. The replacement phones cost the Town $4,225 using the unrestricted fund balance.