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Manvel reports $10.8K fund balance at midyear; staff urges caution while awaiting county tax roll
Summary
City finance staff told council on May 4 that property tax revenue is ahead of projections while some revenues lag; the city reported a March 31 fund balance listed as 10,792 and 224 days of operating reserves, and staff recommended waiting for county appraisal numbers before any midyear budget adjustments.
City finance staff told the Manvel City Council on May 4 that overall revenues are trending within expectations but that several categories lag and midyear adjustments should wait for county appraisal data.
"Property tax... has been collected versus the budget at 103%," finance presenter Rosie told council during the midyear fiscal review. Rosie said sales tax collections lag two months and some categories (franchise tax, licenses and permits, fines and fees) are underperforming but may recover.
Rosie reported a fund-balance figure on the city's balance sheet of "10,792" as of March 31 and calculated roughly 224 operating days in reserve. She cautioned that figure did not account for all pending revenues and unspent obligations and said it was too early to declare excess discretionary funds.
Council members asked whether staff expected midyear requests for adjustments; Rosie recommended holding any broad changes until the county's finalized appraisal numbers arrive (she expects preliminary municipal numbers by mid-June and county numbers by the end of July). Council discussed a possible freeze on nonessential spending if revenues fall short.
Rosie also answered questions about a recent emergency-management expenditure tied to a freeze event; that cost was covered from reserves and was not eligible for state reimbursement because the event was not declared a state emergency.
What happens next: staff will provide updated revenue estimates as county appraisal numbers arrive and will present any proposed midyear amendments with details on personnel and program impacts.
