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Finance director presents preliminary fiscal-year statements; general fund, water and sewer and solid waste reserves highlighted
Summary
City Finance Director Ted Chen presented preliminary fiscal-year financial statements showing stronger-than-expected operating balances in major enterprise funds and a troubling deficit in the city's medical insurance internal service fund.
Ted Chen, Mesquite's director of finance, presented preliminary fiscal-year financial statements and walked council through key operating funds, internal service funds and special-purpose funds. Chen emphasized that numbers are preliminary pending the fiscal-year audit.
General fund: Chen reported an unassigned fund balance of $35.1 million — a $3.3 million increase over the prior year — representing about 78 days of working capital (city policy requires 60 days). He said the larger fund balance supports bond ratings and provides reserves. Revenue drivers included a $10.5 million property-tax collection increase tied to a voter-approved rate adjustment and stronger…
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