Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget And Finance topic
No spam. Unsubscribe anytime.
Cedar Park reports $58.4M general fund revenue through Q2; investment portfolio at ~$375M
Summary
Director of Finance presented the FY26 second-quarter report: general fund revenues of $58.4 million (73% of budget), ad valorem collections of $32 million (97.2% of budget through March 31), and the city's investment portfolio balance about $375 million with yields above benchmarks.
City finance staff presented the FY26 second-quarter financial and investment report, detailing revenue and expenditure performance through March 31.
Director of Finance Bridal Solis reported general fund revenues of $58,400,000, representing roughly 73% of the fiscal year budget through the second quarter. Ad valorem tax collections were $32,000,000 (about 97.2% of the budget through March 31). Sales tax receipts totaled $12,700,000 to the second quarter, with staff noting fluctuations by industry and a net increase above the budget year-to-date.
On expenditures, general fund spending through the quarter was $36,300,000 (approximately 43.8% of budget), and utility fund revenues were $18,200,000 with expenses of $26,900,000 through March 31. Solis also reviewed the city's investment portfolio, which the presentation showed at approximately $375,000,000 at the end of the quarter, with liquidity and core portfolios earning yields above benchmarks.
Council members asked clarifying questions about timing of tax remittances and liquidity targets. Staff explained some timing shifts were due to large property tax remitters paying later than prior years and said these were not a cause for concern.
Solis concluded that staff will continue to monitor sales tax performance monthly and report updates to council.
