To: Mark R. Hafner, City Manager
From: Aaron Rector, Director of Administrative Services
Subject:
Title
Consider a resolution receiving the Keller Quarterly Financial Report for period ending September 30, 2023 (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, 2023 (unaudited), year-to-date operating revenues are $108,918,532 or 109.5% of budget and operating expenditures are $103,654,350 or 94.5% of budget. In the General Fund, revenues are $45,278,171 or 107.4% of budget and expenditures are $44,825,603 or 98.4% of budget. In the Water-Wastewater Utility Fund, revenues are $33,192,728 or 114.7% and expenditures are $29,908,928 or 97.9%. Overall revenues and expenditures are in-line with expectations and follow prior year trends. The report reflects actual activity thru September 30, 2023, 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 2024. After completion of the audit, the official activity through September 30, 2023 will be presented as part of the City’s 2023 Annual Comprehensive Financial Report (ACFR).
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on December 5, 2023.