City enterprise funds are “on target” for first month of FY2024
During the Aug. 14 meeting of the Toccoa City Commission, city finance director Becky Bohannon presented the financial report for the month ending July 31.
July is the first month of the new fiscal year, and accounts for 8.33 percent of the year.
Bohannon said that Splost VII receipts for the month were 12 percent higher than last year, while Local Option Sales Tax receipts were level with last year’s collections for the month of July, and said that the General Fund ended with a slight net loss for the month.
She reviewed the number of customers, revenues, and operating income for the city’s three enterprise funds, saying that the water/wastewater fund, the natural gas fund, and the solid waste fund were all essentially “on target” for the first month of the fiscal year
The report of the Lake Toccoa Facilities showed numbers which Bohannon termed “well above target.”
She finished the financial report by detailing cash balances, noting that the operating cash was low and stating that the city might need to dip into reserves to cover that account for several months.
City Manager Billy Morse commented to WNEG News that he had communicated with city department heads, cautioning them against any large expenditures during the first months of the fiscal year unless necessary.
Fiscal report details and charts are available online at wnegradio.com
