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Finance director reports revenues above budget; capital projects tracking improved
Summary
Finance Director Peter Eckington reported revenues are running ahead of budget — property taxes at 113% of budget — and said the administration has improved capital-project tracking by consolidating project-level expenses for council review.
Finance Director Peter Eckington told the City Council on Oct. 5 that year-to-date revenues are above budget, with property-tax receipts around 113% of the budgeted projection after reassessment. He said income taxes are tracking and there were no notable expense outliers.
Eckington also reported that capital projects are now organized by project with consolidated expense reporting, which he said will make it easier for council to track progress and costs compared with previous piecemeal reporting. Council members thanked Eckington for the improved presentation and for adding a benchmark column that aids comparisons to prior periods.
Ending: Eckington said staff will continue to monitor revenues and provide project-level updates to council.
