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Council reviews December 2024 financial report and first-quarter investment summary
Summary
City staff presented the December 2024 financial report and the quarterly investment report; staff described revenue and expenditure percentages across major funds and noted capital projects and timing differences for tax and debt-service receipts.
City finance staff presented Balch Springs December 2024 financial report and first-quarter investment report at the Feb. 10 council meeting, outlining fund-by-fund collections and timing differences that affect the year-to-date budget comparison.
Interim staff described the general fund as 31% collected in revenues with expenditures at about 20% as of Dec. 31, 2024. The utility fund is showing about 28% of budgeted revenues collected and roughly 7.9% in expenditures. Special revenue funds were noted at 6.9% in revenues and 7.86% in expenditures as of the report date.
Staff noted capital-improvement funds were 100% funded but with 0% expenditures recorded as of Dec. 31, reflecting that many capital projects move later in the fiscal year; the vehicle replacement fund and debt-service collections were also summarized. Debt-service revenues were about 48.6% of the annual budget, with expenditures expected when payments come due in February and again in August.
The investment report showed combined pooled cash and temporary investments with an ending book value of approximately $47 million on the December report. Staff noted most Economic Development Corporation (EDC) funds were held in the city depository and described portfolio allocations and liquidity for planned capital uses.
Staff emphasized that timing of tax collections, franchise fees and debt-service payments affect percent-of-year comparisons, and reminded the council that purchases above $20,000 must still come before the council under city purchasing policy.
Council members asked clarifying questions about individual line items and the schedule for planned capital work; staff said larger capital contracts and street-design work will appear separately on future agendas as projects move from design into procurement.
