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Lakeway finance director flags permit revenue shortfall, fund balance remains strong
Summary
Finance director Jared Degg reported a $100,000 negative variance vs. budget and projected lower permit revenues (about $650k–$700k vs. $1.35M budgeted) tied to delays in three developments, while noting the city's general fund remains strong.
Finance Director Jared Degg presented the city's May financial update, with figures through the end of April. "You can see we budgeted 15,360,000 actuals, 15,260,000. So we have a negative $100,000 variance," Degg said, and he attributed part of the shortfall to delayed permit collections tied to three developments (The Square, Balcones Point, and 300 Burrell).
Degg told council that permit receipts were now projected in the $650,000–$700,000 range for the fiscal year and that staff would monitor these streams during the FY27 budget cycle. He emphasized the city’s strong fund balance and the intention to freeze certain positions to manage personnel expense risk. Councilmembers asked clarifying questions about whether hiring freezes were reactive to revenue timing; Degg said freezes were an expenditure measure and could be reopened as needed.
