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Seguin finance director reports stronger revenues and higher expenditures in first quarter
Summary
The city’s finance director presented the quarterly report through Dec. 31, 2024: revenues year-to-date were above last year, property taxes and building permits were up, and several fund transfers were made early in the fiscal year.
Susan, the city’s finance director, presented the financial report for the three months ending Dec. 31, 2024, noting that revenues were ahead of budget in several categories while expenditures remain under budget for the quarter.
Susan told council that general-fund revenues are 35.3% of budget and expenditures are 31.6% of budget through the first quarter (the first quarter is 25% of the budget year). “We budgeted to use $3,247,763 in fund balance,” she said, and added that property-tax collections are strong early in the year (48.1% of budget) because the city collects a substantial share…
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