To: Mayor and City Council
From: Aaron Rector, Interim City Manager
Subject:
Title
Consider a resolution receiving the Keller Quarterly Financial Report for period ending September 30, 2024 (unaudited) and providing an effective date.
Action Requested:
Consider a resolution receiving the Keller Quarterly Financial Report for period ending September 30, 2024 (unaudited) and providing an effective date.
Background:
The Keller Quarterly Financial Report provides an update on actual operating revenue and expenditure activity in comparison to budget. As of September 30, 2024 (unaudited), year-to-date operating revenues are $109,589,717 or 107.0% of budget and operating expenditures are $103,879,770 or 93.7% of budget. In the General Fund, revenues are $46,356,125 or 105.0% of budget and expenditures are $42,369,242 or 95.5% of budget. In the Water-Wastewater Utility Fund, revenues are $31,796,237 or 106.2% and expenditures are $28,239,689 or 94.3%. Overall revenues and expenditures are in-line with expectations and follow prior year trends. The report reflects actual activity thru September 30, 2024, which is unaudited and will change as the fiscal year is closed. The City is currently working on the annual financial audit which will be completed by the end of March 2025. After completion of the audit, the official activity through September 30, 2024 will be presented as part of the City’s 2024 Annual Comprehensive Financial Report (ACFR).
Financial Impact:
N/A
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on November 19, 2024.
Legal Review:
N/A
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
Staff recommends approval as submitted.