GLADSTONE — Members of the Gladstone City Commission received an update on how the city’s 2020-21 fiscal year has been going so far.

City Manager Eric Buckman said a financial report was reviewed during the commission’s regular meeting Monday evening covered Gladstone’s revenues and expenditures for the 2020-21 fiscal year as of July 31, 2020. The fiscal year began on April 1.

“It’d be the first third of the year,” he said.

For Gladstone’s general fund, revenue by the end of July was listed as $715,747. Expenditures were listed as $1,074,796.

“It’s common for expenses to be ahead of the revenue right now, because we haven’t brought in the lion’s share of our property taxes yet,” Buckman said.

Buckman also said revenues for some general fund line items have been lower than expected as a result of the COVID-19 pandemic. However, this should be mitigated by relatively low expenditures for these items.

“The campground and the beach concession and Fourth of July — that revenue is down, and our expenses will be down, too,” he said.

For the capital projects fund, revenue was listed as $2,432. Expenditures were listed as $1,979,434.

According to Buckman, a bond for Gladstone’s Ninth Street project has been sold for about $4 million. Funds from the bond sale, along with monies from other departments, will be moved to the capital projects fund in the near future.

“As soon as the project finishes up this fall, they’ll just be transferred to the year-to-date balance and that’ll balance out,” Buckman said.

For the major street fund, revenue was listed as $67,578 and expenditures were listed as $41,447. For the local street fund, revenue was listed as $51,341 and expenditures were listed as $42,897. For the Downtown Development Authority fund, revenue was listed as $178,561 and expenditures were listed as $37,515. For the harbor fund, revenue was listed as $63,791 and expenditures were listed as $16,809. For the solid waste fund, revenue was listed as $112,792 and expenditures were listed as $96,239. For the retirement system fund, revenue was listed as $0 and expenditures were listed as $87,661, with transfers from other departments planned to take place later in the year.

The reports for Gladstone’s electric, wastewater and water funds were not handled the same way reports for other funds were.

“We’re a month behind on our collection of bills, and so the revenue is actually for three months and the expense on this is for four months,” Buckman said, noting the city’s auditors had recommended handling these funds in this way.

For the electric fund, revenue was listed as $972,178 and expenditures were listed as $1,224,631. For the wastewater fund, revenue was listed as $291,538 and expenditures were listed as $303,520. For the water fund, revenue was listed as $251,223 and expenditures were listed as $202,906.

Commissioners did not have to take action on the financial report Monday.

“That’s just more or less an informational thing,” Buckman said.

In other business, the commission:

– held a re-organizational meeting to swear in City Commissioners Greg Styczynski and Judy Akkala. Both commissioners ran unopposed and were re-elected in this month’s primary election after previously having been appointed to their positions.

– amended the budget for a capital project at the North Bluff Substation to reflect approximately $55,000 in added costs.

– allowed Buckman to sign a participation agreement for the Municipal Employees’ Retirement System Health Care Savings Program.