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Council receives March 31 financial statement and quarterly investment report
Summary
City staff presented a March 31, 2025 financial snapshot showing general fund revenues at 68.2% and expenses at 41.5% of budget, net cash changes compared with the prior year, and the quarterly investment report ending March 2025.
City finance staff presented the city’s financial statements for the period ending March 31, 2025, and the quarterly investment report. Council received the reports during the May 12 meeting; no substantive action beyond receipt was recorded.
Staff reported the general fund was at 68.2% of projected revenues and 41.5% of expenditures. The utility fund was at 57.3% of revenues and 37.4% of expenses. The exchange event center showed 32% of projected revenues with 51% of expenses; the airport was at 40.6% of revenues and 23.2% of expenses. Net cash in pooled accounts was reported as down compared with the prior year; staff attributed the change to timing differences, capital projects and grant activity.
Staff also noted revenue increases in specific areas, a budgeted transfer of $1,000,000 from the industrial park land sale, and a contractual payment to the Waco Industrial Foundation of $299,800 included in the current fiscal picture. Council accepted the presentation and moved into closed session after the reports were received.
