Aside from transportation funding discussions, Chanute city commissioners addressed a series of year-end financial and administrative items during Monday’s meeting, including a quarterly financial review, a budget amendment and progress on a rural housing development project.
City Chief Financial Officer Corey Kepley shared a quarterly report showing the city had $39.2 million in cash on hand as of Oct. 31. Of that amount, $23.4 million is earmarked for designated purposes and $4.5 million is encumbered by statute. The remaining $11.5 million in unencumbered funds equals roughly 2.27 months of operating reserves.
Staff noted the figure reflects a continued move in the right direction and emphasized that the city is not holding an “outlandish” surplus. Officials also highlighted that the city has completed roughly $56 million in capital projects over the past five years while taking on very little debt.
Commissioners briefly discussed major recent investments, including the city’s $1.8 million HVAC subsidy, and ongoing long-term goals such as expanding the fiber network and meeting a target threshold of 2,000 customers.
The commission held a public hearing on a budget amendment intended to keep the city within state requirements. Kepley said the adjustment reflects improved forecasting practices.
Commissioners unanimously approved an RHID (Revitalization Housing Incentive District) item tied to an ongoing residential development project. Staff said the next major deadline is set for February and that the progress remains on schedule. Commissioners expressed support, with Commissioner Tim Fairchild calling it an “excellent project.”
