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URRA finance briefing: operating cash, revenue lagging budget and bank account transition
Summary
Finance staff presented the February 2026 operating cash and revenue snapshot: operating cash ending $6,219,686, YTD revenue $3,339,279 vs. budgeted $8,690,500; staff explained reversed fraudulent check, a transfer to a Bank of America account for TI Asset Management and ERP/bank timing differences.
Finance staff presented the February 2026 financial packet and walked the board through the cover sheet and detailed reports.
The operating cash summary showed three bank accounts with an aggregate operating cash figure and an ending balance reported as $6,219,686. Staff reported deposits of $14,210 and withdrawals/debits of $143,367 for the month. Year‑to‑date operating revenue was reported at $3,339,279 against a budgeted $8,690,500, leaving a budget balance of $5,351,224. Operating expense year‑to‑date figures were discussed as well, and staff noted an encumbrance of $2,771,703 largely tied to ongoing construction work.
Board members asked about an apparent check to a named individual that had been reversed as a suspected fraudulent attempt; finance staff said the item was flagged and reversed per procedure. The group reviewed timing differences between the ERP/payment system and bank statements (some payments posted in the ERP in February but hit bank accounts in March). Staff said Bank of America statements for TI Asset Management account are not yet connected to the vendor pay application but will be provided once available.
Members requested that staff flag the Bank of America statements when they arrive and that the packet include continued clarity on vendor payments and change‑order timing. No formal vote was taken on budget adjustments during the meeting.
