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Lakeway finance director: permit revenues delayed, city still in positive variance
Summary
Finance Director Daigle told council May figures show revenues slightly ahead and expenditures below budget, but development permit receipts are lagging (budget $1.35M; expected collection ~ $650k), creating a monitoring need for the fiscal year.
Finance Director Daigle presented the city's monthly financial update for the period ending in May, reporting a slight positive revenue variance and an overall favorable position on expenditures. "You can see we budgeted 16.15, actual 16.22," Daigle said, noting an approximate $70,000 positive variance on the revenue side and a roughly $22,000 favorable variance on expenditures.
Daigle highlighted delayed development permit revenues as the principal concern: the city budgeted $1,350,000 for development permits but currently expects receipts closer to $650,000 as development activity has paused or been delayed, leaving roughly $700,000 uncollected for this fiscal year. He flagged personnel as an area to watch, with a reported $22,000 overage in that category so far. Council asked clarifying questions about timing; staff said they will continue to monitor revenues and report back.
