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Finance director says city on track at midyear despite timing lags in some revenues
Summary
Finance Director Melissa Burns told the commission the city has received 40.8% of projected revenues and expended 22.6% of its budget at midyear; staff said lagging collections are timing issues and that revenues are expected to meet or exceed projections by year end.
Melissa Burns, the city’s finance director, told the commission during the Feb. special meeting that at midyear the city had received 40.8% of projected revenues and expended 22.6% of the total budget. "While revenues are currently below the 50% benchmark, several revenue sources primarily within the general fund are lagging by 1 to 2 months in collection timing," Burns said, adding staff expects revenues to meet or exceed budget projections by year end.
The presentation showed personnel services remain the largest share of expenditures, followed by operating costs and capital projects. Burns said many functions are currently below budget and overall the city’s financial position is "healthy," though capital-project spending will increase later in the year as projects under way are completed.
Commissioners asked for clarification about what the budget categories "culture" and "recreation" include; Burns explained recreation covers parks maintenance and events while culture covers event-related cultural education. Commissioners also raised risk questions: the vice mayor asked whether global events that push up fuel costs (mentioned as the war in Iran) could offset the city’s favorable trend; Burns said staff is "watching it very closely," monitoring per-gallon prices and other indicators.
The presentation highlighted the general fund, debt service and capital projects funds, and proprietary funds such as utilities. Burns noted the capital projects fund shows carry-forwards and no original budget line because of encumbrances incorporated during the fiscal year. She said staff is available to answer follow-up questions and will use the strategic plan objectives to prioritize budget requests for FY27.
The commission did not take a formal vote during the midyear presentation. The next procedural step is for departments to submit budget requests and for staff to map those requests to strategic-plan objectives for the upcoming fiscal-year budget process.
