Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Financials topic
No spam. Unsubscribe anytime.
CFO Kathy Williams presents preliminary, unaudited 2Q 2025 results to Finance and Audit Committee
Summary
Chief Financial Officer Kathy Williams told the Finance and Audit Committee that June year-to-date revenue was $835,000,000—$5,000,000 below budget—and that operating expenditures of $217,000,000 were $15,000,000 (6.5%) below budget, driven by unfilled positions and actuarial adjustments.
Chief Financial Officer Kathy Williams presented the Finance and Audit Committee with the authority’s preliminary, unaudited second-quarter 2025 financial results on Aug. 21, 2025. "June year to date revenue is 835,000,000," Williams said, adding that this figure was $5,000,000 under budget. She described an increase in total revenue and investment income that was offset by what the transcript records as "lower than projected invasion recovery."
Williams said actual operating expenditures through June totaled $217,000,000, which she characterized as $15,000,000, or 6.5%, below budget. She attributed the underspend to several factors: unfilled positions, security and safety savings, and an adjustment stemming from a workers' compensation actuarial study. Williams also reported debt service transfers of $255,000,000 and noted a loan-budget variance of $13,000,000 (4.9%), which she described as timing-related; the transcript cuts off before the full explanation.
The numbers Williams presented were described as preliminary and unaudited; no committee vote was recorded on the report. The presentation was introduced by Executive Director Cassandra and followed procedural items earlier in the meeting. Committee members did not record further questions or directives in the available transcript segment. The CFO said the report compared actual results to budgeted figures and framed next steps as continued review of the unaudited results ahead of the formal audit process.
