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February financials: city reports revenues ahead of schedule and MWBE participation at 20% for month
Summary
Assistant Finance Director Lakita Sutton told council March 17 that year‑to‑date general‑fund revenue collection for the fiscal year stood at about 70.7% of the annual budget as of February, slightly behind last year’s pace. The city reported general‑fund spending was at 36% of budget by February; the utility fund and sanitation fund
Assistant Finance Director Lakita Sutton presented the city’s February 2025 financial report to the DeSoto City Council on March 17 and reported revenues and spending levels through the month.
Sutton said the city is 41% through the budget year as of February. General fund revenue collections were about $45.4 million, or 70.7% of the FY25 annual budget of roughly $64 million, slightly behind the same point last year (73.9%). General‑fund expenditures were at about 36% of budget year to date.
In the public‑utilities fund, Sutton said year‑to‑date collections include $5.3 million in water sales and $6.6 million in sewer sales; utility expenditures were at about 38.9% of budget. The sanitation fund’s revenues and expenditures were tracking near expectations as well, with revenues at approximately 41% of the annual budget and year‑to‑date expenditures at roughly 22.2%.
Sutton also reported the city’s February month‑end MWBE (minority/women‑owned business) participation at 20% and said staff expects additional contract activity to raise the aggregate percentage in coming months; the report noted an MWBE firm was participating on the aquatics and recreation center procurement.
The full set of fund reports, property‑tax collections and capital‑project updates were provided to council as supporting materials.
Speakers: Lakita Sutton presented the financial package and fielded council questions about department and capital reporting.
