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 June 30, 2020, 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 June 30, 2020, year-to-date operating revenues are $67,374,151 or 76.1% of budget and operating expenditures are $58,683,646 or 64.9% of budget. In the General Fund, revenues are $33,029,041 or 83.4% of budget and expenditures are $26,158,295 or 64.3% of budget. In the Water-Wastewater Utility Fund, revenues are $17,577,987 or 63.4% and expenditures are $17,844,154 or 65.3%. Overall revenues and expenditures are in-line with expectations and follow prior year trends. At this time, the only financial concern is COVID-19 impacts on the Pointe revenue and staff is continuing to seek ways to reduce expenditures to offset the revenue losses.
Financial Impact:
N/A.
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on August 4, 2020.
Legal Review:
None.
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial