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 March 31, 2019, and providing an effective date.
Action Requested:
Consider a resolution receiving the Keller Quarterly Financial Report for period ending March 31, 2019.
Background:
The Keller Quarterly Financial Report provides an update on actual operating revenue and expenditure activity in comparison to budget. As of March 31, 2019, year-to-date operating revenues are $50,311,032 or 58.4% of budget and operating expenditures are $40,581,024 or 45.0% of budget. In the General Fund, revenues are $27,772,532 or 71.4% of budget and expenditures are $17,912,000 or 45.5% of budget. In the Water-Wastewater Utility Fund, revenues are $10,373,436 or 37.1% and expenditures are $11,129,922 or 39.8%. Overall revenues and expenditures are in-line with expectations and follow prior year trends. At this time there are no significant financial concerns, however, staff is continuing to monitor development related fees as they are below projections.
Financial Impact:
N/A.
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on May 7, 2019.
Legal Review:
None.
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
City Council approval of resolution as presented.