Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance reports general fund balance and La Porte Development Corporation notes sound wall public notice
Summary
Finance staff reported the general fund balance at roughly $103.5 million (about 533 days of operating reserves) and the utility fund working capital around 171 days. The La Porte Development Corporation announced a 60‑day public notice for a $1.5 million north‑side sound wall.
Finance staff presented the fund balance report showing a general fund total of $103,486,413 with expenditures of $52,999,564, yielding about 533 days of working capital; the utility fund working capital stood at roughly 171 days. Staff noted seasonal revenue timing affects fund balance figures and that the city budgeted a $400,000 contingency in the next fiscal year that could supplement projects if approved.
Separately, the La Porte Development Corporation reported a 60‑day public notice for a $1.5 million north side sound wall; no incentive grant action was taken because the applicant did not meet program requirements. Council congratulated planning staff for state recognition and several council members offered brief remarks about service awards and community outreach.
