McGregor finance director reports revenues up, cash balances lower; staff flags grant and one-time items

City finance staff presented the city’s midyear financial snapshot at the Sept. 8 McGregor City Council meeting, reporting that year-to-date revenues exceeded expenditures in several funds but that pooled cash and capital-project balances are lower than a year earlier.

The presentation covered July figures (10 of 12 months in the fiscal year). Staff reported general fund revenues at about 85% of budget with expenditures at 77.9% of budget. The utility fund was reported at roughly 99.4% of budgeted revenue and 69.4% of budgeted expenses. The exchange event center and airport showed results below budget for the year-to-date comparisons presented.

Staff said general fund net cash flow was higher than the previous year and attributed revenue increases primarily to higher ad valorem tax collections and a transfer from an industrial-park land sale. Expenditures were described as higher than the prior year largely because of contractual payments, capital outlay and increases in contracted and personnel services; a specific contractual payment amount cited in the transcript was unclear and is not stated here.

For the utility fund, staff reported net cash flow higher than the prior year, with revenue increases tied to higher water usage and rate adjustments and receipt of insurance refunds; reported expenditure decreases reflected lower debt-service charges partially offset by higher personnel costs. Staff noted a non-operating transfer excluded from the operating expenditure graph.

The exchange center’s net cash flow improved versus the prior year, a result staff attributed mainly to fewer one-time costs in the current period (for example, last year’s eclipse-viewing fees and light-replacement work). The municipal airport showed a modest decline in net cash flow compared with the prior year; staff said revenue was slightly higher but expenses were higher mainly due to budgeted personnel costs and grant-funded terminal rehabilitation work.

Staff summarized the city’s cash position as showing $2.4 million less in net cash in the bank than the same period last year. Operating accounts were up due to internal transfers, pooled cash was down, grant balances were lower and capital-project cash declined compared with the prior year.

The presentation included a year-to-date sales-tax chart showing growth since fiscal 2023 and staff said planners are monitoring sales tax receipts for fiscal 2025. Staff also reported a forthcoming comprehensive-plan procurement supported by a roughly $300,000 General Land Office grant; staff said an RFP process will begin to use those funds to prepare a comprehensive planning document.

Council members asked clarifying questions during and after the presentation; staff offered to provide additional backup and the redlined fee schedule referenced in a separate agenda item.

Ending Staff closed by inviting questions and offering to supply detailed backup; no formal fiscal actions were taken during the meeting.