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City finance director reports improved audit readiness, forecasts $58M available fund balance
Summary
Finance staff presented August financials showing revenues on track, highlighted interlocal true‑ups with Ector County, noted staffing impacts on expenditures, and said auditors are on site and the FY2024 audit is expected to be completed on time. Staff estimated an available fund balance of roughly $58 million at year‑end after projections.
Finance staff provided the council with an overview of the August financial statements for the general fund, water, sewer and solid waste, and reported progress on the FY2024 audit.
The presenter told council that property and sales tax are the city’s major revenue sources and that property‑tax collections came in above conservative budget assumptions. She said the city records several…
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