Regular Meeting (Draft Budget 2025/26)
Event Date: 2025-01-15
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Executive Summary
This document presents the draft budget for the Township of Kasson for the fiscal year ending March 31, 2025 (FYE 2025). It includes a comparative analysis of actual income and expenses from previous years (FYE Mar 22, FYE Mar 23, and FYE Mar 24), along with year-to-date (YTD) figures for the current fiscal year (April-December 24, January-March 25). The budget forecasts estimated remaining and total figures for FYE 2025 and proposes budgets for FYE 2026. Key revenue sources include taxes, state shared revenue, and licenses/permits. Expenses are categorized by department, with significant allocations for the Township Board, Supervisor, Clerk, Treasurer, Assessor, and Fire & Rescue.
Revenue Highlights
Total income for FYE 2024 (projected) is $306,149.39, with $169,398.14 realized by the end of December 2024 and an estimated $150,480 remaining. FYE 2025 is budgeted at $535,919.00, with $306,550.00 proposed for FYE 2026. The primary sources of revenue are taxes ($80,616.76 estimated for FYE 2024), state shared revenue ($181,664.13 estimated for FYE 2024), and licenses/permits ($8,895.00 estimated for FYE 2024). The budget accounts for various other income streams, including ARPA funds, solid waste revenue, and interest on investments.
Expense Analysis
Expenses are detailed across various departments, including the Township Board, Supervisor, Clerk, Treasurer, Assessor, Elections, Township Hall, Cemetery, Planning Commission, and Zoning. Fire & Rescue is a significant expenditure. The Township Board accounts for a substantial portion of the budget. The document provides specific line items for salaries, payroll taxes, supplies, services, insurance, and capital outlays for each department. Expenses for FYE 2024 (projected) are $259,088.82, with a total budget of $494,744.00 for FYE 2025 and a proposed $446,274.00 for FYE 2026.
Financial Performance and Outlook
The “Net Ordinary Income” shows a fluctuation across the periods, reflecting the relationship between income and expenses. In addition, there is a section for “Other Income/Expense” pertaining to the Fire department and Rescue that contribute to the overall financial picture of the Township. The financial analysis will provide a detailed overview of all income and expenses. Finally, the overall outlook will be reviewed to provide important insight.