Annual Meeting — Agenda packet

Annual Report Overview Annual Financial Statements – required per Section 60.41 of State Statutes . Requirements include: • Statement of financial condition (Balance Sheet) as of 12/31/2024. • 2024 revenues and expenditures (Statement of Revenues and Expenditures). • Indebtedness of the Town (included as other financing source) as of 12/31/2024. Johnson Block & Company completes an annual audit of the Town’s financial statements. Financial Statement Overview - • The Town had cash of $ 3,346,293 of 12/31/2024. $2,621,464 of this was advance tax collections for others. The Town collects taxes for all jurisdictions including Town, School, County, Vocational college. • Town has general obligation debt of $ 141,394 as of 12/31/ 2024. The Town’s general obligation debt limit is 5% of equalized value. Debt limit was $20,281,300. • As of 12/31/2024, fund balance was $375,467. $27,214 of fund balance is considered non- spendable as it is for prepaid expenses. • The Town received revenues as follows during 2024: Taxes 685,579$ Intergovernmental State Shared Revenue 81,486 State Transportation Aids 116,988 Other 241,475 License and Permits 27,626 Public Charges for Services 10,123 Other 48,474 1,211,751$ • Town expenditures during 2024 were as follows: Current Expenditures: General Government 131,763$ Public Safety 245,311 Public Works 614,320 Health and Human Services 43,166 Culture, Recreation and Education 23,258 Conservation and Development 330 Capital Outlay 3,544 Debt Service 148,503 1,210,195$