During Tuesday night’s meeting, Hopkinsville City Council heard some good news regarding the end of the fiscal year financial report which showed all departments coming in under budget and a surplus in the general fund.
City Financial Officer Robert Martin presented the Financial Report for Fiscal Year 2017-18. As of June 30th, he says the City showed a cash balance of $8.1 million, down from $10.3 million in May. He explained it’s typical for the cash to go down in June, and added it will continue to decrease until October.
He noted the available cash was up from last fiscal year’s amount of $7.3 million.
Martin also reported the City ended the year with a surplus, thanks to every department coming in under budget and revenue coming in a little over budget. He stated he was pleased with the property tax collections for the past twelve months, which came in stronger than projected, and the amount of payroll taxes which was also higher than expected. He said the General Fund had a surplus of over $1.4 million with 50% of that amount approved by City Council to be designated as Capital Equipment Replacement Reserve.
In other business, council members unanimously approved a resolution authorizing Hopkinsville Water Environment Authority to submit an application for the first phase of the proposed Hammond Wood Waste Water Treatment Plant renovation and expansion for an amount of $5 million. In 2016, City Council approved a Municipal Order authorizing HWEA to apply for the funding totaling over $39.3 million. The construction process should begin this calendar year and continue for approximately 2.5 years.
Council members also approved several appointments including Day Z. Mulero-Aviles to serve a one year term as the youth member on the Hopkinsville Human Relations Commission; Steve Buttram to serve the remainder of Hal King’s unexpired term on the Hopkinsville Cable Television Oversight Authority; and 14 individuals were appointed or reappointed to serve a one-year term on the Inner City Advisory Committee.
