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Type B board hears Q2 financial update showing $12.7M revenue budget and mixed sales‑tax trends
Summary
Finance staff reported a FY2026 revenue budget of $12,700,000 (mostly 0.5% sales tax), amended expenses of $4,600,000 (including a $250,000 parks amendment), and year‑to‑date sales tax collections of $6,300,000 through March 31, with staff flagging a modest decline versus the prior year but a positive variance to budget.
Erica Solis of the City of Cedar Park finance department presented the board with the quarter‑end financial report for fiscal 2026 actuals through March 31. "Our fiscal year 2026 revenue budget is $12,700,000," Solis said, adding that most of the fund’s revenue comes from the 0.5 percent Type B sales tax. She told the board the amended expense budget for 2026 is $4,600,000, which reflects a $250,000 budget amendment the board previously approved for park projects.
Solis said year‑to‑date sales tax collections through March 31 totaled $6,300,000, a figure she described as 2.67 percent above the year‑to‑date budget but 1.95 percent below the same period in the prior year. She also reviewed debt service timing and long‑term payoff, noting the larger principal payment is scheduled for August and that the current debt is expected to be paid off in 2041. Board members asked clarifying questions about how partner funds are applied to projects and how savings are returned to the Type B fund balance.
