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Collegedale approves January finance report; revenues running ahead of last year
Summary
Finance staff reported the city is 58% through the fiscal year with 50% of proposed revenues received — 8% higher than the same time last year — and expenditures at 72% partly due to an unbudgeted property purchase; the commission approved the report.
Finance staff presented the January financial report at the Feb. 17 Collegedale meeting, telling commissioners the city is 58% of the way through the fiscal year and has received 50% of proposed revenues, an amount 8% higher than the same period last year. Expenditures stood at 72%, higher than the prior year because of payment timing for projects and a property purchase that was not budgeted.
The presenter said invoices to both the Coalition and College Academy for school-resource-officer (SRO) services have been sent and payments are expected in the next few weeks. No bank transfers occurred in January.
Commissioners asked questions and then moved to approve the January finance report; the motion passed on a roll-call vote with no objections recorded in the transcript.
Next steps: staff will continue to monitor revenues and expenditures and provide updates to the commission in future reports.
