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Park Board reviews December financials; consent agenda approved unanimously
Summary
The Spokane Park Board received December financial reports showing parks at about 99% of budgeted revenues and 95% of budgeted expenses through December. The board approved the consent agenda by unanimous voice vote and staff said year-end adjustments (a 13th-month closeout) will be reported in March.
Rich Lentz, finance staff, presented December financials to the Spokane Park Board and said parks’ year-to-date revenues were roughly 99% of budget while expenses were about 95% through December, with routine 13th-month adjustments still outstanding.
"Through December, Parks has earned about 99% of what we budgeted for revenues and has spent about 95% of budget expenses," Rich said, adding the department expects the 95% figure to move closer to 100% after year-end payroll and invoices are posted in the 13th-month closeout.
Staff told the board that, excluding facility improvement fees and related debt-service payments, year-to-date revenues exceeded expenses by just over $600,000. For golf operations, Rich reported revenues of about 111% of budget and expenses at 103% through December; staff noted additional invoices and payroll adjustments will change that tally.
Staff also reported $870,000 collected in facility improvement fees and about $618,000 paid for related debt service. The department said it expects to report final 2024 numbers after a 13th-month closeout to be delivered in early March.
Votes at a glance: The board approved the consent agenda by unanimous voice vote during the meeting. No mover was recorded in the transcript; a second was called and the board responded with "aye." Outcome: approved (unanimous voice vote).
Why it matters: The December report sets the baseline for final year-end accounting, affects the Parks Department’s presentation of 2024 finances to the board and informs planning and training around the February–March reporting cycle.
Ending: Rich and staff said there will be no financial presentation in February; the board will receive February and the final 13th-month 2024 closeout in March.
