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McGregor finance director reports Q4 figures: $26.7M cash & investments; general fund tracking near budget
Summary
Finance Director Lee presented quarter-end financials as of Dec. 31, 2025: $26,744,045 in cash and investments and $298,000 interest earned for FY2025; revenues and expenses across major funds were discussed with explanations for variances.
Lee, the city's finance director, presented the fourth-quarter financial summaries (as of Dec. 31, 2025) and a quarter-one snapshot of fiscal 2026 activity. He reported cash and investments of $26,744,045 and interest income of $298,000 for FY2025.
Lee walked the council through budget-to-actual positions for major funds: general fund revenues of about $1.8 million (25.2% of budget) and expenses of about $1.4 million (18.8%); utility fund revenues of about $2.0 million (29.1%) with expenses of about $1.1 million (16.7%); airport fund revenues and expenses and exchange/event center variances were discussed in context of booking timing and a December cancellation that shifted recognition between fiscal years. Lee explained a previously budgeted Waco Industrial Foundation payment of $299,800 is budgeted from the industrial park fund, which affected year-over-year comparisons.
On cash flow, Lee noted net cash in the bank is down $2.9 million versus the same period last year, driven by internal transfers and timing differences for grant and capital project spending; operating accounts increased due to internal transfers. The utility fund showed a positive change in position after transfers; the airport's net position increased slightly after nonoperating activity.
Lee answered procedural questions and offered to provide additional detail if councilmembers wanted follow-up information.
