Fiscal Year Ends With Expenses & Revenues Above Projections
By Zendelle Bouchard
At the City Council meeting on August 1, 2023, City Manager Steve Buck presented some information on the status of the municipal budget for fiscal year 2022/23, which ended July 31.
Expenses are closing at $39,402 over budget for the fiscal year, primarily due to overages in the General Assistance budget ($664,525) and payroll costs for overtime due to staff shortages and buyouts due to retirements ($241,891). In the past few years, unexpended funds in the Public Works and Environmental Services budgets have been able to be redirected toward road projects, but this year, the $308,687 unexpended, primarily due to staffing shortages, is being used to cover the shortfall.
However, Mr. Buck went on to say there is good news on the revenue side of the budget. Several line items brought in higher-than-expected revenues, including the following:
- Auto excise tax: $54,502
- Revenue sharing from the state of Maine: $427,442
- COVID relief funds: $109,960
- General assistance reimbursement: $472,403 (this is 70% of the over budget expense incurred)
- Investment income: $96,270
- Ambulance fees: $107,483
- PAYT: $22,865
- Cable TV franchise fees: $87,639
- License fees $102,834 (of which $51,400 was from Vacant Building Licenses)
Ronni-Lynn Champlin, Sanford’s Finance Director, will present complete fourth quarter and closeout reports to the Council at its August 15 meeting. The Council will then be able to make decisions on what to do with the closeout items.
