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University City finance director reports second-quarter revenues up; police overtime tied to vacancies
Summary
Finance Director Keith Cole told council that general fund revenues were about 48.1% of budget as of Dec. 31, 2024, with increases in permit fees, service charges and interest. He and council discussed police staffing shortfalls of about 10 officers and several fund-level variances tied to development and TIF receipts.
Keith Cole, finance director for University City, presented the city’s second-quarter financial report covering revenues and expenditures through Dec. 31, 2024.
Cole said general fund year-to-date revenues were $12,225,001.55, or 48.1% of an adjusted budget of $25,390,007.50, representing a roughly $1.3 million increase from the same quarter in FY2024. He attributed the rise to higher building and zoning permit fees ($253,000), a $174,000 increase in service charges (including ambulance services), $94,000 in interest revenue and $841,000 in other revenues tied primarily to development-related fees and a settlement from the St. Louis Area Insurance Trust.
On expenditures, Cole reported year-to-date general fund spending of $14,000,007.86 (48.4% of adjusted budget). He said personnel costs in police and fire contributed to increases and noted higher aquatics-related professional services tied to a Midwest Pool Management contract.
Cole reviewed multiple restricted sales-tax funds and capital accounts, reporting variations driven in part by development activity and tax-increment financing (TIF). For example, the economic development retail sales tax fund (EDRST) had year-to-date revenue of $372,008.36 (31.1% of its adjusted budget), with roughly 61.6% of that revenue generated from TIF. The parks fund showed higher upfront costs tied to a Corps of Engineers reimbursement request for a detention-basin project; capital-improvement expenditures were down compared with the prior year due to timing of overlay projects.
Council member Clay and others pressed for more detail on rising police overtime. Cole and city staff said the department is roughly 10 officers below ideal staffing levels, contributing to overtime; city leaders said Chief Hampton is increasing academy frequency and stepping up outreach to area colleges to recruit new officers.
Council members also asked about an alleged TIF misallocation being discussed with the state Department of Revenue. City staff said the matter is under review, no official notification has been received and the timeline and cure (if any) remain uncertain.
Cole said transfers from dedicated public-safety and fire-protection sales taxes continue per the budget and noted a leased fire truck payment ended in FY2024; an expense for an NX Trinity renovation was temporarily recorded in the public-safety fund and will be reimbursed through project accounting.
Cole answered council questions and offered to provide additional details on TIF receipts and fund transfers; the presentation did not require formal council action.
