Wells Branch MUD says FY2024 is $3.9M ahead of plan; Board approves transfers

Wells Branch Municipal Utility District’s accountant told the Board on Nov. 19 that the district closed September roughly $2.76 million ahead of plan and that year‑to‑date results were $3.919 million favorable largely because wholesale water and sewer costs from the City of Austin were lower than budgeted and several capital outlays were deferred.

"The month of September had come in $2,764,000 ahead of plan and, year‑to‑date, the District was $3,919,000 ahead of plan," accountant Allen Douthitt reported. He said the operating fund held about $25.5 million in cash and investments and that the District’s tax collection rate through Sept. 30 was 99.5%.

On motions by Directors Solis and Palmer, the Board approved payment of the bills and invoices in the transmittal records and authorized two transfers of $350,000 each from the TexPool Operating Account to the District’s ABC Bank Operating Account. Both motions passed unanimously. The Board also approved routine fund transfers, check registers and the disbursement reports presented by staff.

Douthitt’s packet and supplemental reports itemized assigned reserves (about $17.1 million) and an unassigned operating fund balance (about $7.6 million) as of Sept. 30. He said the favorable variance largely reflected lower City of Austin wholesale water/sewer charges and deferred capital spending rather than a recurring revenue increase.

Next steps: staff will post budget and tax Q&A materials online ahead of the December packet and continue work on community engagement for the budget process in early 2025.