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TDA reports lower revenues and expenses for year ending Dec. 31; staff highlight workforce and Greenwood master plan activities
Summary
TDA staff presented the authority's quarterly financial report showing revenues down about $141,000 and expenses lower than the prior year, and provided staff updates on volunteer events, workforce development and the Kirkpatrick Heights Greenwood master plan.
TDA staff presented the authority's quarterly financial results and regular staff updates at the meeting.
Chris Green of the City of Tulsa presented the December 31 financial summary, saying revenues were "down about a hundred and 41,000," driven in part by a $5,000 decrease in property rentals and slightly lower investment income. Green said a gain on sale of land offset some decreases. He reported expenses for the period were about $186,000 at December, which he said was $39,000 lower than the prior year, primarily because of a lower management fee (about $45,000) and reduced vegetative control costs; those decreases were partially offset by a $28,000 increase in auditing expenses.
Green also noted a property-available-for-sale balance of about $246,000 and an outstanding notes-receivable current portion of roughly $3,400,000, with the bulk of receivables showing a large payment in 2030 (recorded in the presentation as $1,670,000). He stated those figures were "as of 12/31."
Lynn Kane, identified as finance director, told the board that interest income for TDA operating revenues was above projections while gains on sale of land were lower than projections, and that management services expenses would "catch up" due to invoice timing. Kane confirmed that other fees reflected reimbursements related to lot resales.
In the staff report, Gary Clark summarized operational work and upcoming events. Clark highlighted volunteer involvement for the Great Tulsa Cleanup on April 17, a career fair and workforce development efforts including a drone/UAS meetup scheduled for March 29 from 9:30 a.m. to 11:30 a.m., and noted two staff were attending a site selection conference in Denver focusing on renewable energy. He also noted continuing work on the Kirkpatrick Heights Greenwood Master Plan and said fiduciary or fiscal items related to the Greenwood Legacy Corporation will come back to TDA for approval.
Ending: Board members had no substantive questions for the finance presentations at the meeting; staff said they will continue work on the budget and return with routine updates.
