Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance director: first-quarter variance report shows timing-driven revenue and expense differences
Summary
Finance Director Alexis Miller told council first-quarter variances reflect timing (property tax receipts and cyclical expenses), noted unaudited numbers and explained a temporary capital charge for sewer lateral work pending tax receipts; the audit team is on site and some prior-year accruals may be reclassified.
Alexis Miller, finance director, presented the city's fiscal year 2024 first-quarter variance report and walked council members through key drivers of the reported variances. "Because it's the first quarter, generally, we should have either collected 25% of our revenue or we should have expended 25% of our budget," Miller said, noting that timing differences and cyclical expenses often alter that expectation.
Miller…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
