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Commission acknowledges first‑quarter financial report showing higher revenues and strong fund balance
Summary
Finance staff reported first‑quarter results (Oct–Dec 2025): general fund revenues and property tax collections were higher year over year, and the unassigned fund balance represented about 150 days of reserves; commissioners acknowledged the report.
The commission on Feb. 17 acknowledged the city’s financial statements and cash investment report for the first quarter ended Dec. 31, 2025.
Finance staff presented highlights: general fund revenues reported at about $53.9 million, general fund expenditures at about $33.3 million, and property tax collections totaling roughly $55.8 million. Staff noted sales tax increases year‑to‑date and that the city reported a strong unassigned general fund balance of approximately $54.5 million, representing about 150 days of reserves (well above the city’s 90‑day baseline). Investment holdings and liquidity figures were presented, including about $393.6 million in invested idle funds and a weighted average yield near 3.8%.
Commissioners asked about quarterly operating transfers and how that practice helps manage cash flow; staff said more frequent transfers will reduce end‑of‑year adjustments. The commission moved to acknowledge the report.
Next steps: Staff will continue quarterly reporting and manage transfers and investment compliance as described.
