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DeSoto finance director: midyear revenues ahead of expenditures; ERP transition delaying some utility postings
Summary
Finance Director Lakita Sutton told the council DeSoto is 75% through the fiscal year with general fund revenues at about 85.9% and expenditures at 71.2%; staff will provide a key to report categories and follow up on CARES team invoicing.
Finance Director Lakita Sutton presented the city's June financial report and said the city is "75% into the fiscal year" with general fund revenues at about "85.9% of revenue" and total expenditures at "71.2%", figures comparable to the prior year. She noted sales tax was at approximately 68.5% and property tax collections at about 93%, and that a delayed utility billing cycle related to the city's ERP transition has left some postings pending.
Council members pressed for more detail on variances and asked for a clear key to the new roll-up report. Mayor Pro Tem Crystal Chisholm asked why the CARES team's expenditures are low (listed at about 54% of its budget); Sutton said she would coordinate with program staff and provide follow-up details and category keys to the council for public availability. "So literally, if you go to the detail page, you will see where the 2,917,000 in revenue breaks down into several categories," Sutton said when describing the report roll-up.
