City budget staff reports January 2025 revenues above estimate; encumbrances cited on expenditures

Colvert Portugal, a budget staff member, presented the City of Tulsa’s January 2025 financial management report and said the city’s appropriated fund balance for the reporting period was $7,200,000.

Portugal said total year‑to‑date revenues as of Jan. 31 were $23,278,000 and that revenue actuals equaled about 62.07% compared with a year‑to‑date estimate of 57.92%. He told the board the city was “over performing, compared to our estimate revenues.”

Portugal said total charges for services year‑to‑date were $22,806,000 and that the figure exceeded the estimate by about $1,273,000. He corrected an earlier figure during his presentation, noting that a previously cited $1,500,000 figure referred to total revenue variance rather than charges for services.

On expenditures, Portugal reported total year‑to‑date expenditures of roughly $25,113,000 with actuals at 78.47%, above a year‑to‑date estimate of 61.98%. He said encumbrances stood at $15,500,000 and explained that many contracts and purchase orders are encumbered at the start of the fiscal year; timing will liquidate those encumbrances later in the year.

“The encumbrances are at 15,500,000.0, and part of the reason is contracts and PO's get encumbered at the beginning of the year,” Portugal said.

Portugal concluded his presentation and asked whether board members had questions; none were recorded in the transcript.