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Euless presents pre‑audit Q1 FY2025 financials; operating fund balance falls to $113 million
Summary
At its Jan. 28 meeting the Euless City Council received a quarterly financial report showing a decrease in operating fund balance from $119 million to $113 million for the first quarter of fiscal year 2025; capital funds rose due to transfers into project cash flow.
City staff presented the City of Euless’s pre‑audit financial report for the quarter ending Dec. 31, 2024 (first quarter of fiscal year 2025) at the Jan. 28 council meeting.
Finance staff member Miss Jewell told the council that overall operating fund balance decreased from $119,000,000 to $113,000,000 for Q1. The presentation said the city performed most of its annual one‑time transfers at the start of the fiscal year; those transfers increased capital funds from over $65,000,000 at the start of the year to more than $75,000,000 at the end of Q1 as projects were funded.
Jewell described fund groupings and timing effects: governmental operating and debt service funds are in line with budget expectations; some decreases in fund balance were planned drawdowns of excess reserves or are the result of timing differences in revenue collection (for example, grant funds often record expenditures before reimbursements are received). Proprietary funds, including the Water and Wastewater Fund, were reported as generally aligned with budget expectations; the water/wastewater fund had collected 26% of expected revenues and expended 25% of its budget for the quarter.
Within the general fund, staff reported having collected 25% of projected budgeted revenues for Q1; departments had spent about 23% of their annual budgets. The report noted property tax collections are typically due by Jan. 31 and can affect the seasonal presentation of revenues. The presentation also included departmental details: golf course revenues were $213,000 above budget for the quarter but the facility recorded a net loss after debt and capital of $370,000 (better than expected by $130,000), while Parks at Texas Star had operating income and a net gain better than projections for the quarter.
The presenter reminded the council that figures are pre‑audit and that the independent audit is under way; staff expects to present audited financial statements in February.
No follow‑up actions were directed in the meeting record.
