In a recent government meeting, officials discussed the financial implications of a significant storm that has impacted the current fiscal year. The anticipated costs related to the storm are estimated to be between $4 million and $5 million. Officials clarified that expenses incurred from invoices dated before October 1st were covered by last fiscal year's budget, while those dated after will be accounted for in the current fiscal year.
As the fiscal year progresses, officials plan to revisit the budget in December and January to assess the storm's impact more accurately. They indicated that adjustments would be necessary, including the potential use of funds from the reserve account to balance the budget and manage unanticipated expenditures.
The discussion also highlighted the previous fiscal year's budget, which had already accounted for two storms, Idalia and Debbie. Officials reported that approximately 50% of the reimbursement for Idalia has been received, while reimbursement for Debbie is still pending. This situation underscores the ongoing financial challenges posed by natural disasters and the need for careful budget management in the face of unexpected costs.