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Isla Vista staff report midyear finances: revenues tracking to plan, reserves healthy but budget outlook cautious
Summary
General Manager Jonathan told the Isla Vista board that midyear revenues are tracking close to conservative estimates and that the district’s reserves and cash position remain stable, while urging continued monitoring of utility-user tax receipts and outstanding receivables.
General Manager Jonathan presented the district’s midyear financial update on Feb. 25, reporting that revenues are tracking roughly in line with conservative projections while expenditures remain below budget so far this fiscal year.
Jonathan told the board the district had collected about 52% of its projected revenue with 64% of the fiscal year elapsed (July 1–June 30), a result that aligns with conservative forecasting but leaves limited upside if costs rise. He said the district’s cash-on-hand is about $1.7 million; after accounting for receivables the number would align with an expected $1.9 million.…
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