Euless finance director reports stronger-than-expected first-half results; city wins GFOA budget award

Janina Jewell, the City of Euless finance director, told the City Council the city received the Government Finance Officers Association Distinguished Budget Presentation Award for the 34th consecutive year and provided the quarterly financial report for the period ending March 31, 2025.

Jewell said overall operating fund balances increased from $119 million to $129 million in the first half of the fiscal year and capital project funds rose from over $69 million to over $76 million because of transfers in and project cash flows. She told council that general fund revenues to date are 78% of the projected budget while 46% of the approved budget has been expensed.

Jewell summarized major revenue drivers and timing. She said property and sales taxes were the largest general fund revenue sources, and that property tax collections are typically concentrated by Jan. 31 each year, which can make early-year comparisons appear larger. She noted the grant fund showed a negative fund balance because many city grants are reimbursement-based and the city must spend funds before requesting reimbursement.

On enterprise operations, Jewell said the Water and Wastewater Fund has collected 48% of expected revenues and expensed 45% of its budget through the first half of the year. She reported the golf course produced $306,000 more in revenues than budgeted for the period, but after debt and capital the facility showed a $473,000 net loss—about $215,000 better than expected for this point in the year. Revenues at the Texas Star complex exceeded expectations by $185,000, leaving the facility with $196,000 in operating income and a total net gain of $129,000 after nonoperating losses, better than budget by roughly $131,000.

Ross Fairclough, assistant finance director, was identified as the staff member who supports the capital improvement program work referenced in the presentation.