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Weatherford finance director reports surplus through March as sales tax remains strong
Summary
Finance Director Jessica Doss reported the general fund had collected about 60% of budgeted revenue and spent about 48% of budgeted expenditures through March, producing a surplus just under $4 million; sales tax was up about 7% year over year and property tax collections were near 99%.
Jessica Doss, Weatherford’s finance director, presented the city’s financial report through March, saying the general fund had collected roughly 60% of budgeted revenue and spent about 48% of budgeted expenditures, creating a surplus just under $4,000,000. Doss said property tax collection was about 99% and noted sales tax through March was up about 7% compared with the prior year (about $503,000 on a dollar basis).
Doss told council that collections reflecting the economic effects of COVID‑19 for March would be received in May and that staff would circulate updated figures when available. She also reported that the solid waste fund was operating at a deficit through March, with revenues at about 44% and expenditures at about 47%, while the hotel‑motel fund showed a slight surplus with hotel occupancy tax revenue up about $67,000 (roughly 16.1%) year over year.
Council thanked Doss for the report; no action was required. Doss said staff would provide updated sales tax collection figures once the March numbers were received.
