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Lancaster council discusses DCAD nominations, hears quarterly finance report showing lower yields
Summary
City staff briefed council on how to nominate candidates and cast Lancaster’s 10 votes for the Dallas Central Appraisal District board; the finance director reported that investment yields fell modestly year‑over‑year while revenues generally exceeded expenses in the quarters reported.
The Lancaster council discussed two routine but consequential items on Sept. 15: potential nominations to the Dallas Central Appraisal District (DCAD) board and quarterly financial results for fiscal 2025.
City Manager (speaker 3) told council the city is entitled to 10 votes in DCAD elections and can allocate all 10 votes to one candidate or spread them across nominees. He outlined eligibility requirements: nominees must be residents of the appraisal district for at least two years, may be elected officials but not employees of the appraisal district, and may not have delinquent taxes. Nominations via resolution must be submitted to the chief appraiser by Oct. 15; the appraisal district compiles nominations and issues ballots by Oct. 30, and vote submission is due by Dec. 15. Staff offered to contact potential nominees and return to council; staff said a nomination could be scheduled for the Oct. 13 regular meeting.
Finance Director Christine Harris Reed (speaker 13) presented the quarterly financials. She reported the city’s 2nd‑quarter TexPool yield at 4.33% (down from 5.32% in 2024) and similar year‑over‑year declines in TexasCLASS and LOGIC pools; third‑quarter yields also showed declines. Reed said overall revenues exceeded expenses for both quarters and that department spending remained generally within budgeted levels. "For the 2nd quarter, we were at 4.33%...so just within the year of 2025, we have decreased 0.09%," she said, adding the council should watch upcoming interest‑rate guidance from the Federal Reserve.
No formal vote was taken on nominations during the Sept. 15 work session; staff will return with nomination options and a proposed resolution if the council chooses to forward names to DCAD.
