Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Finance director reports modest positive mid-year variance
Summary
Lakeway's finance director reported a mid-year snapshot showing roughly $90,000 positive revenue variance and about $352,000 in permit collections, offset by a $40,000 negative spending variance, resulting in an overall $50,000 positive variance as of March.
The city’s finance director presented the April financial update, reporting that, through the end of March, Lakeway shows a roughly $90,000 positive revenue variance and year-to-date permit collections of about $352,000.
“We have a $90,000 positive budget variance,” the finance director said, and noted a $40,000 negative variance on expenditures tied partly to earlier police department spending and budgeted vacancies. The net position was reported as a $50,000 positive budget variance.
Council members asked about permit collection timing and whether particular receipts might increase the year-to-date totals; the director said he expected some permit receipts to jump later in the year and that spending trends should even out.
No formal action was taken; the director concluded by offering to answer follow-up questions and monitor trends for the remainder of the fiscal year.
