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February finances: snowstorms drive expenses; year‑to‑date fund balance remains healthy
Summary
Staff reported February revenue was slightly under budget while snow removal and related expenses pushed the month into a net loss; year‑to‑date fund balance remains above prior years and staff expects to recover reimbursable expenses and seasonal variances.
The authority received the February financial report showing parking revenue narrowly under budget for the month while snow-related costs pushed expenses above projections, producing a monthly net loss. Finance staff said on a year‑to‑date basis the authority still holds a healthy fund balance.
Cirac (finance staff) reported that snowstorms reduced meter and violation revenue while increasing snow-removal expenses; he said the month included "about six major reported…
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