Century Mayor Henry Hawkins told the council Monday night that the town received a check Sept. 25 for $79,710 from Capital Trust Agency (CTA) for the University Bridge Project which Century council approved recently.
CPA Robert Hudson gave a report on the state of the budget, stating the general fund will benefit this year from fees totaling $210,000 collected from CTA, although the town only budgeted $75,000 this year.
“The general fund will be in a lot better shape,” said Hudson. “Capital Trust Agency helped us exceed our budget. That $17,500, coming with the one that was just approved, will get us a good start at getting our $75,000.”
Hudson said that how the town stands financially through August compared to the budget is a lot better than last year. He attributed the budget gain to fees collected from CTA, noting the town received $131,000 where the town budgeted $40,000.
Hudson said the local option gas tax through August is at $66,000 and will receive another $6,000 or $7,000 for September, which will put them at more than $70,000. He said Century get 6 cents a gallon for each gallon, which is why the revenue is more than budgeted.
Hudson noted that the water fund revenue is up to about $194, 000, but reminded them it's because of Century Apartment's tap fees of $80,000 each for water and wastewater, not something that will happen annually.
About the gas fund, Hudson said it has a $150,000 deficit through August, with September to go.
“That's going to push it to about $185,000 by the time we get to the end of the year.”
Hudson said the garbage fund is doing well, with a $30,000 profit, but they are taking $5,000 a month from there to put into the gas fund. Councilwoman Brooks added that they were also putting $7,000 from the special revenue economic development.
At a final hearing Sept. 17, the Century Council had its second public hearing to adopt a resolution setting the Fiscal Year 2018-2019 budget at $3,421,749. The council approved unanimously
In other business, the council approved:
-A resolution that allows the mayor to sign with Gulf Breeze to allow CTA to oversee a project by QSH Mid Florida, LLC to acquire three senior living communities known as Grand Villa of Altamonte Springs, Grand Villa of Largo and Grand Villa of Ormond Beach with a public purpose that will give the town a fee of $17,500 on $50 million borrowed or $21,000 on $60 million borrowed.
-To combine two economic development accounts by closing the one with a smaller balance after transfering the funds to the larger one, which will remain open.
-To approve Mayor Henry Hawkins' request to send two town employees, a brush truck and a pick-up truck to one of the Carolinas for a week with no overtime to help with hurricane recovery.
