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Cedar Park reports FY2025 unaudited revenues above budget; sales tax and interest earnings lead gains
Summary
Finance staff presented unaudited FY2025 results: general fund revenues $79.9M (6% above budget), ad valorem taxes $30.7M (98.5% of budget), sales tax $25M (8.5% over budget), and interest earnings $12.6M, with the city’s portfolio at about $289M at year-end.
Erica Solis, finance department staff, presented the city’s unaudited fourth-quarter financial and investment report for fiscal year 2025, showing revenues above budget and continued investment performance.
Solis said general fund revenues totaled about $79.9 million through Sept. 30, roughly 6% higher than budgeted; sales tax collections of about $25 million came in 8.5% above budget and ad valorem taxes totaled $30.7 million, or 98.5% of budget. Solis described development-related fees and a one-time audit adjustment that contributed to results while noting ad valorem receipts were slightly below the 99.5% policy target due to refunds tied to litigation settlements.
On expenditures, the general fund’s amended budget of $78.5 million was met after a year-end capital projects amendment approved in December. For the water and wastewater utility fund, she said revenues came in higher than budget and expenses ended about 2.3% below budget.
Solis also reviewed the city’s investment portfolio: combined quarter-ending balance about $289 million, liquidity portfolio yield ~4.25%, core portfolio yield ~4.2% and a weighted average maturity appropriate for policy. Interest earnings for the fiscal year were reported at $12.6 million, driven in part by unspent bond proceeds from 2024 GO bonds.
Councilors complimented staff on performance and asked routine questions about drivers of growth and portfolio strategy. Solis noted the figures are unaudited and the city remains under external audit.
