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Waco posts 3rd-quarter financials: general fund 82% collected, portfolio yields $29.7M year-to-date
Summary
Finance staff reported that the general fund had collected roughly 82% of budgeted revenues through June 30, highlighted lagging property-tax collections, and showed the city's investment portfolio earned about $29.7 million year-to-date with a par value near $973 million.
City finance officials presented the third-quarter financial report covering activity through June 30 and summarized the quarterly investment report.
"We've collected $178,200,000, so that's good for 82% of collections," Colin Booth, the managing director of finance, told the council while reviewing general-fund revenue and expense categories. Booth said charges for services and intergovernmental revenues were ahead of budget while fines and permits lagged.
Investment portfolio and income Blue Kostelitz, the city's CFO and assistant city manager, summarized the investment portfolio: par value rose from roughly $889.7 million on March 31 to…
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