There is a lot happening in Margaret, and I want to provide a clear, straightforward update on where we stand financially and operationally five months into Fiscal Year 2026.

First – Something Worth Celebrating

Margaret Elementary earned an “A” on the 2025 State School Report Card with 91 total points.

That’s not just a school achievement – it’s a community win. Strong schools support property values, attract families, and strengthen long-term growth. Our teachers, students, and administrators deserve recognition.

Fire Station 3 Progress

We currently have a preliminary agreement in place for a proposed Fire Station 3 property. Final contract terms are pending, and I expect to bring the full purchase details to Council soon.

We are also pursuing options for additional fire apparatus and funding.

One major step forward: our financial systems and purchase order controls are now being finalized. This allows us to qualify for more federal grant opportunities moving forward. That’s a structural improvement that strengthens our long-term funding capacity.

Financial Snapshot (as of 2/20/26)

Across all City accounts:

Total Cash on Hand: $5,646,486

We are financially stable and on track five months into FY2026.

If you’ve noticed balance changes, two major items explain most of the movement.

Prior-Year Bills Paid This Year

Total prior obligations paid so far this fiscal year: $410,710

Breakdown:

• $203,726 – Brookhaven Grant project costs
• $171,324 – Dillard Park invoices
• $35,660 – APAC road paving invoice

We still expect approximately $60,000 in Pavilion-related invoices, and we are awaiting partial reimbursement from the County Commission for the Brookhaven Drive Project in the sum of around $130,000.

These were obligations incurred previously but paid during this fiscal year. It’s important to separate historical obligations from current operations.

Fire Truck Debt Reduction

We made a major move to reduce long-term debt.

• $298,398 paid from ARP funds
• Nearly $40,000 had already accrued in interest
• Early payoff saves approximately $160,000 in future interest

The remaining balance is scheduled to be paid in April.

Reducing debt increases flexibility and strengthens our financial position.

Revenue Review

We are reviewing how certain revenues have historically been allocated.

Gas Tax

Gas Tax funds have been deposited into multiple accounts in the past. We are consolidating this for clearer tracking and transparency.

Fire Millage

Approximately $100,000 per year in Fire Millage revenue has been used toward staffing-related costs rather than equipment or capital needs. Council will evaluate future alignment with long-term Fire Department priorities.

Road Spending Overview

Road spending increased significantly in 2025.

Part of that includes the Brookhaven project, which was approved in 2024 but carried into this fiscal year for payment.

In 2025, road-related expenses were recorded across multiple General Ledger accounts, including:

• $151,135.82 – Street Repairs
• $105,833.21 – Street Repairs
• $98,453.94 – Capital Projects
• $88,682.34 – Street Repairs
• $35,660.10 – Public Works Street Maintenance
• $31,153.21 – City Impact Repair
• $23,548.48 – Repair Road
• $11,912.00 – Equipment
• $9,000.00 – Street Repairs

When expenses are spread across multiple categories, totals are harder to see. We are standardizing coding practices to improve clarity and consistency.

Contractor Payments (2025)

Total 1099 contractor payments in 2025: $31,653.56

It was $133,652 over the course of several years.

Payments were recorded across multiple categories. We are cleaning up vendor naming and classification so totals are clearer and easier to audit.

Where We Stand

Five months into FY2026:

• Accounts are being reconciled
• Debt is being reduced
• Coding is being standardized
• Grant eligibility has improved
• Historical obligations are separated from current spending

We are on track – but we are not finished. There are still revenue opportunities to evaluate and systems to tighten.

A Note on Ongoing Review

This update reflects reconciliation data as of 2/20/26. As reconciliation continues, historical entries may be reclassified or adjusted. Transparency means continuing to refine and improve.

The Goal

• Clear numbers.
• Routine budgeting.
• Reduced debt.
• Strong infrastructure.
• No surprises.

Margaret is moving in the right direction.