City finance staff reports March-quarter finances; tourism fund balance declines after recent payouts

City finance staff presented the March quarterly financial report to the Finance and Personnel Committee, describing it as the slowest three-month period of the year and noting the report shows revenues and expenditures largely tracking on target.

Finance staff (Mark) said permit revenues are behind because some large permits have not yet been pulled (Topgolf and On the Pines expected to submit soon). Expenditures were described as generally on target. On the ambulance fund, Mark said revenues are tracking better than last year and that April numbers show about 41% (revenue tracking relative to budget), an improvement from last year’s position. On tourism funding, the packet showed about $77,000 available at the time the report was prepared; Mark said a recent payment of roughly $20,000 reduced the available balance to about $57,000. He explained the tourism commission typically spends room-tax receipts collected in one year in the following fiscal year and that the commission may need to adjust allocations for 2026 to preserve a conservative balance.

Mark reviewed the general fund invoices before the committee, noting standard items such as a Lakeside International plow truck chassis (partially received due to supply-chain backlog), Amazon and Lake Ridge Bank card charges, and professional legal bills charged to TIF accounts for redevelopment matters. The committee moved, seconded and accepted the quarterly financial report and the general fund invoices by voice vote.

Mark said staff will continue to monitor revenues and proposed that the tourism commission and staff review allocations and balances ahead of the 2026 budget cycle.