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Finance director: Cedar Park is on track for FY2026 after Q1; revenues at 31% of budget, sales tax above budget
Summary
Finance staff reported Q1 FY2026 results (period through Dec. 31, 2025): general fund revenues about $25.2M (31% of the $82.8M budget), ad valorem collections $8.8M, sales tax $6.8M (5.12% above budget YTD), and investment income of about $3.0M; the city noted timing differences and recent debt issuance.
Erica Solis presented the City of Cedar Park's fiscal-year-2026 first-quarter financial and investment report, which covers the period ending Dec. 31, 2025.
Key figures Solis cited include general fund revenues of approximately $25.2 million (about 31% of the adopted $82.8 million budget) and general fund expenditures of roughly $18.3 million (about 22% of budget). Ad valorem collections through the quarter were $8.8 million and sales-tax collections $6.8 million, which the presenter said were 5.12% above budget year to date after accounting for an audit adjustment from the prior year.
"We collected $25,200,000 during the first quarter or 31% of the 2026 budget," Solis said. She explained a timing difference for ad valorem receipts that produced a delayed posting into January. Solis also reviewed the utility fund, which showed revenues and expenses moving at different seasonal rates, and an investment portfolio balance of about $357 million, driven in part by debt proceeds. The city reported about $3 million in interest earnings for the quarter.
Council members praised the presentation and asked technical questions about extending portfolio maturities and the composition of revenue sources. Solis said public-safety expenditures remain the largest share of the budget; she noted the city issued certificates of obligation and utility revenue bonds in December that increased the portfolio balance.
Why it matters: The Q1 report is a routine fiscal update but identifies timing and revenue trends that affect budget monitoring and capital-planning decisions. Councilors expressed general satisfaction with performance and risk management; staff flagged no immediate fiscal stress.
