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Staff reports rolling 12‑month expenditures near $100 million; recent sale reported at $160 million
Summary
Staff presented an informational finance update showing the rolling 12‑month expenditures approaching $100 million, said the 2022 sale year exceeded an 85% requirement, and reported a recent sale of $160 million; council took no formal action.
Staff presented an informational finance update showing the city's rolling 12‑month average expenditures were close to $100 million and reported progress on multi-year sales and spending metrics.
A finance staff member said the May figure on the rolling 12‑month expenditures was $88 million as of the 19th but that the number was closer to $100 million when updated through the full month. The staff presentation noted the 2022 sale year exceeded an 85% requirement and stood at 90% for that year; the 2023 sale year was at 46% and 2024 progress was reported at 12% as of the meeting. Staff also stated that the city had recently sold "$160,000,000." The update was informational only and required no council action.
Councilmembers did not take any votes on the financial slide presentation; staff said they will update the chart next month to include the 2025 sale activity. No further details about the composition of the sales, associated projects, or restricted/unrestricted uses of the proceeds were provided during the informational update.
