Monthly Financials – August 2026

As of August 31, 2026, the City’s financial position continues to track generally in line with budget expectations. Revenues and expenditures remain consistent with anticipated seasonal patterns, while several notable developments are being incorporated into the City’s longer- term financial planning.

General Fund

At the end of August 2026, income tax revenue totaled approximately $8.3 million, representing 72% of budgeted revenue. Income tax collections continue to trend in line with expectations and remain the City’s most significant revenue source. Two significant withholding remittances were inadvertently submitted to the incorrect Oakwood, resulting in higher-than-anticipated collections and subsequent refunds. These transactions are not expected to materially affect the City’s overall income tax revenue outlook for the year.

Property tax revenues total approximately $1.6 million, or 51% of budgeted revenue. The second-half property tax settlement is typically received in September and is expected to complete this revenue line for the calendar year. Total General Fund revenues are approximately $10.5 million, or 66% of the annual budget.

General Fund expenditures total approximately $10.7 million, or 58% of the annual budget. Salaries and benefits comprise approximately 54% of General Fund expenditures, while transfers account for approximately 35%. Current General Fund encumbrances total approximately $1.3 million, bringing expenditures plus encumbrances to approximately 66% of the 2026 budget.

Refuse Fund

Refuse Fund receipts total approximately $1.3 million, or 67% of budgeted revenue. In January, $220,000 was transferred from the General Fund to the Refuse Operating Fund to maintain the City’s desired fund balance. Excluding this transfer, Refuse Fund revenue is approximately 70% of budget, reflecting continued solid performance in the fund’s primary revenue sources. The largest portion of refuse revenue comes from disposal fees charged to City residents.

The City has spent approximately $1.3 million on refuse operations, including $300,000 transferred to the Refuse Capital Expenditure Fund. Current encumbrances total approximately $184,000, bringing expenditures plus encumbrances to approximately 70% of the annual budget. Health insurance and landfill/tipping fees account for approximately 75% of total refuse encumbrances.

The Montgomery County Solid Waste Management District has informed the City that generation fees will increase from $3.00 per ton to $3.65 per ton in 2026, followed by annual increases of approximately 6% thereafter. The resulting increase in operating costs is being incorporated into the City’s revenue and cost model to ensure that refuse operations and future capital needs remain financially sustainable. Based on this analysis, a $5 monthly