[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6482257,"mediaKeyId","5548628-0c3acb96a836e699c172660308a46ec0","parentId",5548628,"title","Waco posts 3rd-quarter financials: general fund 82% collected, portfolio yields $29.7M year-to-date","audioSeconds",2270,"startMs",1187000,"endMs",3457000,"viewUrl","/Search/View?dp=1&key=5548628-0c3acb96a836e699c172660308a46ec0&start=1187&end=3457","thumbnailUrl","https://assets.pipeline.soar.com/5548628-0c3acb96a836e699c172660308a46ec0/thumbnail_1187000.jpg","articleUrl","/articles/6482257/Waco/McLennan-County/Texas/Waco-posts-3rd-quarter-financials-general-fund-82-collected-portfolio-yields-297M-year-to-date","mediaUrl","https://secure.pipeline.soar.com/6482257-cae9c8bfe2ee12d27be91c272e58a15b/orig.mp4?Expires=1770969137&Signature=OYwHrwiABvbztC5JHGG0ofEeTgRQmdlg6Y~f7Jrwcwh9l096j78h5t1KFei-PI3K-iHlLDbyPxz9NQRejkhqOtxSXSA--8b~1Dqxe3WLVNptO2tIJxY-Lfd-jZwpXRNTkuyudPVt7Oa9p6G9wlmmAVYcuy0dXmdvhC7sCdwS177tzXLxEaZF1Hhn3YETeUA8ImAJ82uxNFcnpOssf0-oaNtW4wVjdpfAncf--bOV7syrMDcIbIxGgnkKHIH93aAOXugxYsAPolTkoa~-agTf8tzuENp0TBnMPF2OgX7q--ZmcDeL3FBAlEfkHYyIXMOSwNF2bXDlz5G77DR1qahXng__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Waco, TX","date","2025-08-06T17:14:05Z","article","City finance officials presented the third-quarter financial report covering activity through June 30 and summarized the quarterly investment report.

\"We've collected $178,200,000, so that's good for 82% of collections,\" Colin Booth, the managing director of finance, told the council while reviewing general-fund revenue and expense categories. Booth said charges for services and intergovernmental revenues were ahead of budget while fines and permits lagged.

Investment portfolio and income
Blue Kostelitz, the city's CFO and assistant city manager, summarized the investment portfolio: par value rose from roughly $889.7 million on March 31 to about $973.4 million following receipt of bond proceeds. \"Net income for the fiscal year through June 30 is $29,665,841,\" Kostelitz said. The portfolio's yield to maturity was reported near 4.22% with an emphasis on safety and liquidity under the Texas Public Funds Investment Act.

Selected fund highlights
- General fund: Revenues collected were about 82% of the $217.6 million budget through June 30; salaries and benefits were just under the 75% year-to-date benchmark. Transfers out lagged typical timing because a large annual transfer to fund capital projects posts in July.
- Water fund: Metered water sales (the largest account) were at about 64.4% of budget; overall the water fund reported 62% of budgeted revenues year-to-date, with interest earnings ahead of plan.
- Wastewater and WMARs: Combined revenues are tracking near budget; the WMARs capacity charge was on track at roughly 73% of budget. Staff noted encumbrances and timing on transfers (including a TIF 4 transfer) affected year-to-date comparisons.
- Solid waste: Residential and commercial collections tracked at roughly 76% and 80% of budget, respectively; transfer-station revenues were deferred because a new transfer station opens in October.

Staff observations and caveats
Booth and Kostelitz cautioned that some accounts show over-budget encumbrances (notably some chemicals, contracted inspection services and other special services accounts) that can be balanced by savings elsewhere. They also noted property taxes were behind a straight-line pacing measure because a majority of collections occur early in the fiscal year (December–February), so monthly benchmarks should account for seasonality rather than simple arithmetic division.

Ending: Council members complimented staff for faster close and timely reporting; finance staff said some items (airport passenger facility fees, particular transfers) will be posted in July and reflected in subsequent reports.","mediaType","Video","parentTitle","Work Session (August 5, 2025)","oneSentenceSummary","Finance staff reported that the general fund had collected roughly 82% of budgeted revenues through June 30, highlighted lagging property-tax collections, and showed the city's investment portfolio earned about $29.7 million year-to-date with a par value near $973 million.","taxTitle","Waco, McLennan County, Texas","taxId",2807,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6482262,"Consultants recommend Cameron Park Zoo pursue nonprofit governance, master plan and operational changes",1293,6609000,7902000,"/Search/View?dp=1&key=5548628-0c3acb96a836e699c172660308a46ec0&start=6609&end=7902","https://assets.pipeline.soar.com/5548628-0c3acb96a836e699c172660308a46ec0/thumbnail_6609000.jpg","/articles/6482262/Waco/McLennan-County/Texas/Consultants-recommend-Cameron-Park-Zoo-pursue-nonprofit-governance-master-plan-and-operational-changes","https://secure.pipeline.soar.com/6482262-f730eccfa7aa7f3415921a9b2bbacabc/orig.mp4?Expires=1770969137&Signature=VIgK5o05K48bXVwLKrqh4m2NXjhdoQnohfUd~HQ6kt0x-y0NqhKeaw2k3MEGuPZyKGoYOdKJxuYG55rGpemnWcbEUbWfpSQ0atW-qyzLy0u8VWy8Dx5PHBiQbLkZc4BLsbatvtpmqzHuuWZ94iSxgheaEiGgOAv-uUjham~-Mae0Jwk8jSGuOwSuFD-bhlQSyJS9AeQGJ0cCAOAdcR3n2QpoD6YnqaoHIFDskKx3uLpjVJVJJBBeZ1neu8-Om8InYY6uokULvLBkIWJxpDnYs-Qb9rYLA1YJnyQNhydNgxPSBcqVkEYJfuea~9pRHXCn0hXEe-sQapBp6huUM-ANkg__&Key-Pair-Id=KUT5TJCACFTXG","City and zoo officials presented findings from a governance study that evaluated whether Cameron Park Zoo should shift governance from municipal operation to nonprofit oversight.

\"In the privatization model ... the zoo is most likely to turn a surplus of about $2,500,000,\" said Zachary Winfield, senior vice president at Canopy Strategic Partners, which the city and the Cameron Park Zoological and Botanical Society jointly commissioned for the study. Winfield added both models in the analysis assumed a continued annual city operating subsidy in the range of $3,000,000.

Nut graf: The consultants ran two primary operating models — a baseline that assumed current municipal governance and a privatized model under nonprofit management — and concluded that, given their assumptions (a master plan, modest staff increases to meet accreditation and a continued city subsidy), privatization was likely to produce a better financial outcome over the modeling period. The study also recommended pursuing a comprehensive master plan and exploring outsourcing of retail and food concessions.

Details of the evaluation
- Consultant process: Canopy conducted a two-phase analysis: a discovery phase that compiled historical finance, attendance and membership data and a modeling phase that projected operations under two governance scenarios.
- Assumptions: Both scenarios assume a master/site plan will be completed within 12–24 months; both assume the zoo will add approximately 30 staff positions over the multi-year horizon (to meet AZA staffing expectations) and both assume the city provides roughly $3,000,000 annually in operating support.
- Financial findings: Under the baseline (municipal) scenario, Canopy projected an operating deficit of about $2,300,000 across the study window. Under the nonprofit/privatized model, Canopy estimated a surplus of roughly $2,500,000, producing an approximate $5,000,000 delta favoring privatization over the modeled period.
- Personnel and benefits: The largest driver of the modeled savings was differences in personnel compensation and benefits between municipal employment and typical AZA-private governance structures. Canopy modeled equivalent staffing levels but different benefit and compensation structures, which produced an estimated personnel cost reduction of roughly $3,400,000 over the study period in the privatization scenario.
- Other recommendations: The report recommends (1) commissioning a formal master plan to define phased capital improvements that will drive attendance, (2) continuing evaluation of outsourcing retail and food services for modest annual gains and (3) conducting a detailed \"hidden-costs\" analysis to surface central services that currently support the zoo (HR, legal, fleet, utilities) but are not captured fully in the zoo's budget.

Council and staff context
Deputy City Manager Emerson and Zoo Director Bridal Wiley told the council that the report completes the first major phase of a multi-step review that began with a 2023 contract to study governance alternatives. Wiley and the Cameron Park Zoological and Botanical Society framed the work as exploratory — not a decision — and Zachary Winfield emphasized that many operational details remain to be negotiated if the city and society decide to pursue privatization.

What happens next
The city and the society will decide whether to proceed to the next steps, including a public conversation between the parties, a deep cost-allocation review, negotiation of an operating agreement and a master-planning process. City officials noted the process is iterative and would include additional public input and more detailed financial modeling before any transfer of governance or operational responsibility.

Ending: Officials emphasized no decision has been made and that the presentation was an informational milestone in a longer evaluation process.
","A Canopy Strategic Partners report prepared for the city and the Cameron Park Zoological and Botanical Society finds privatizing operations could close a long-term funding gap and recommends a site master plan, outsourcing of retail/food services and further cost analysis before any governance change.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6482267,"Waco manager proposes flat $649.8M FY26 budget, holds tax rate amid lower certified property values",5946,3652000,9598000,"/Search/View?dp=1&key=5548628-0c3acb96a836e699c172660308a46ec0&start=3652&end=9598","https://assets.pipeline.soar.com/5548628-0c3acb96a836e699c172660308a46ec0/thumbnail_3652000.jpg","/articles/6482267/Waco/McLennan-County/Texas/Waco-manager-proposes-flat-6498M-FY26-budget-holds-tax-rate-amid-lower-certified-property-values","https://secure.pipeline.soar.com/6482267-defc1d6066f46424565002e4c9bdaece/orig.mp4?Expires=1770969137&Signature=VZXYm13wg3yL4ESBIjXcgB32BLSBLyumaPPB11Asm7JqVfDRi4LEBQ-JfTIgsMpzYUiAGi01in0nMTfvh0FxrK0OD4bSwG44VyPtInbOszctgODQH2wgpJultc0g0IaEISGAr6GpaSxew7F9lecu3SNKIrohvMG~SVrBHDV6u2dCcLdDqPfpehbO0AkZkgivBGbHrCuaGI1eL0U5VOQ9KFl82aQz2GxhdWTkoO9hZ4EgsM3aDqDFnqA0hn-IJXcNUvi9OvIw-jR2rkbrWYDM0uf0pT5WQx-RUUtQD2jupnDYp676YgD9IUsdmt~jIOAh2zd2Q4fXkQE8g1k0Gh6K0g__&Key-Pair-Id=KUT5TJCACFTXG","City Manager Bradley Ford presented the Waco City Council with a proposed $649,800,000 fiscal 2026 budget that preserves the current property tax rate at 75.5¢ per $100 of valuation and includes a $134.2 million capital improvement program.

The proposal, outlined at a July work session, holds the tax rate constant after certified values fell short of preliminary estimates and directs $2,300,000 in surplus to balance the general fund. \"We are proposing a structurally balanced budget,\" Ford said, adding the plan includes an estimated $20,300,000 investment in personnel compensation and benefits.

Why it matters: certified property values released in July were substantially lower than the preliminary figures the city used in budget planning, creating an immediate estimated $4,000,000 shortfall in general-fund maintenance and operations. Finance staff told the council they expect the gap to be covered this year because departments identified more than $32,000,000 in operational efficiencies, but cautioned the revenue pressure could persist in future years.

Colin Booth, the city's managing director of finance, reviewed third-quarter results and year-to-date collections that feed the FY26 plan. \"Our total revenue budget for the general fund is $217,600,000. We've collected $178,200,000, so that's good for 82% of collections,\" Booth said, noting sales tax, charges for services and intergovernmental revenue were tracking ahead of plan while property-tax collections were lagging.

Key components and assumptions
- Tax rate: Proposal holds the combined maintenance-and-operations (M&O) and interest-and-sinking (I&S) rate at 75.5¢. Council staff said this would be the third consecutive year at that rate. The staff analysis shows the proposed rate sits above the certified \"no-new-revenue\" rate (74.0487¢) but well below the voter-approval rate (83.0148¢).
- Property values: Preliminary values rose to about $18.2 billion, but the appraisal review board certified net taxable values at approximately $16.6 billion, a drop that reduced projected M&O revenue by roughly $4 million. Officials attributed the change to a larger-than-usual number and size of property-value protests and adjustments.
- Revenue conservatism: Staff recommended budgeting sales tax at $60.5 million for FY26 (roughly 7% above FY25 budget) but said recent industrial and construction use-tax receipts warrant caution; those receipts drove several recent monthly spikes.
- Personnel and benefits: The proposed budget includes a 3.5% general-service pay increase (non–civil-service employees) and continues multi-year commitments to police and fire pay increases. The plan also budgets a 14% increase in the city's portion of health insurance premiums (6% passed to employees).
- TMRS: The budget keeps the city's current TMRS (Texas Municipal Retirement System) plan in place (30% non‑retroactive COLA adopted in 2024). Staff warned that selecting larger COLA options would materially increase the city's contribution and that two lower-cost, nonretroactive options expire under state law after 2025.
- Capital: A $134.2 million five-year CIP is included, with a heavy emphasis on transportation ($51 million), utility infrastructure, public safety preconstruction (Fire Station 8), airport runway work (95% FAA grant-funded), and an initial allocation tied to the Cameron Park Zoo master-plan efforts.
- Reserves and one-time funding: The budget relies on $2.3 million of surplus for the general fund and uses available fund-specific reserves for certain CIP and transitional items. Staff signaled intent to consider reducing the city-managed reserve policy from 27.5% to 25% in a future year to increase deployable cash for capital projects.

Outside agencies and new project fund
The proposed FY26 package continues contracts and grants to outside agencies but pivots how those dollars are delivered: staff proposed seeding a new $1,000,000 outside-agency project reserve to fund time-limited, performance-based project work rather than recurring operational support. Ford described the change as a shift from sustaining agency operations toward funding discrete projects and gave Prosper Waco priority access to the initial allocation to stand up the program.

Utility and fee changes
The proposed budget maintains the base water rate but includes volumetric adjustments; wastewater base and volumetric increases are proposed; a proposed solid-waste base pickup change (aligned with a new transfer station and landfill schedule) would raise the solid-waste fee by $1.41; drainage fees would drop slightly and the street-maintenance fee would rise from $2 to $4 per month.

Next steps and calendar
Council must set public hearings for both the budget and tax rate under state law. Staff included resolutions on the agenda to set public hearings for Sept. 2 and a special meeting for Sept. 9 for second reading and adoption. The council may amend the manager's proposed budget during the public process.

Ending: Council members praised staff for identifying operational savings and for delivering a rapid close of quarterly financials; several asked staff to return with more detailed scenarios, especially around property-tax sensitivity, TMRS cost implications, and CIP funding options.","City manager Bradley Ford and finance staff presented a $649.8 million proposed fiscal 2026 budget that keeps the tax rate at 75.5 cents per $100 of valuation, relies on $2.3 million in surplus and $134.2 million in capital spending while warning of a $4 million general-fund gap caused by lower-than-expected certified property values.","actionData","errors"]

Article not found

Waco posts 3rd-quarter financials: general fund 82% collected, portfolio yields $29.7M year-to-date

Consultants recommend Cameron Park Zoo pursue nonprofit governance, master plan and operational changes

Waco manager proposes flat $649.8M FY26 budget, holds tax rate amid lower certified property values