Financial News

Danville Town Council to vote on financial report | News

The Danville Town Council is set to discuss finances at its regular meeting Tuesday and is poised for a vote that would replenish the town’s general fund balance to some extent in the wake of an overall decrease in funds due over the past year.

Town of Danville logo.

The town’s general fund has seen a net decrease of $6,858,844 between the 2020-21 fiscal year and the 2021-22 fiscal year, resulting in town staff recommending that the council approve designating funds that would replenish it by $4,769,893.

Although the general fund has decreased overall, revenues continued to exceed expenditures by $6,959,327, with the reduced number coming as the result of $13,842,014 in transfers to other funds.

In total, revenues exceeded the final budget by $1,778,206, with expenditures coming in $3,479,539 below budget, due to a reduction in staffing and some services in recent years.

“These savings were largely attributable to several position vacancies that went unfilled in all departments and significant expenditure reductions in Recreation, Arts and Community Services due to the inability to offer many fee classes, programs and activities as a result of the pandemic,” treasurer Lani Ha said in a staff report.

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