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City staff reports first-quarter revenues and expenses largely on track
Summary
City staff reported first-quarter revenues and expenses are roughly at budgeted quarter levels. Parks and streets showed higher expenditures due to pump repairs, summer activities and a slurry-seal bill; capital project funds are up about 36% due to investment income.
City staff reviewed first-quarter revenues and expenses and told the council that most funds are at or near 25% of the annual budget after three months.
Staff highlighted that parks expenditures were above the 25% mark due to pump replacements and summer programming costs and that streets expenditures were above target because the city paid the slurry-seal invoice this quarter. Municipal court showed a one-time software purchase that increased early-year spending. Conversely, the capital project fund is up about 36% year-to-date because of stronger investment income.
Staff said these variances are expected to normalize as the year progresses and that most operating funds remain within expected ranges. Council members asked clarifying questions about specific line items; no formal action was taken other than receipt of the report.
