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 December 31, 2019, and providing an effective date.
Action Requested:
Consider a resolution receiving the Keller Quarterly Financial Report for period ending December 31, 2019.
Background:
The Keller Quarterly Financial Report provides an update on actual operating revenue and expenditure activity in comparison to budget. As of December 31, 2019, year-to-date operating revenues are $28,836,395 or 32.6% of budget and operating expenditures are $15,399,462 or 17.0% of budget. In the General Fund, revenues are $15,123,553 or 38.2% of budget and expenditures are $8,222,586 or 20.2% of budget. In the Water-Wastewater Utility Fund, revenues are $7,296,210 or 26.3% and expenditures are $5,206,478 or 19.0%. Overall revenues and expenditures are in-line with expectations and follow prior year trends. At this time there are no significant financial concerns.
Financial Impact:
N/A.
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on March 6, 2020.
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.