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Midyear financial report shows revenues and reserves performing ahead of plan
Summary
City staff reported Q2 financials showing revenue beating projections in several categories (property taxes, sales tax, building-permit receipts) and healthy water and sewer fund balances; the presentation included operating ratios, days cash on hand and a $59 million treasury cash figure as of June 30.
Staff presented the 2026 second-quarter financial report and highlighted revenue and fund-balance performance across general, enterprise and capital funds.
"Our comp use tax is up 15.97% from last year," the finance presenter (S9) said while reviewing the top revenue sources; the report also cited property taxes up 22.56% and sales tax up 7.97% year over year. The presenter reported total revenue at about 68.42% of expected for the year-to-date and said general fund expenditures are roughly on target.
The water fund was described as healthy, with operating revenue and net income cited and a water-reserve balance reported at approximately $1,620,000; the sewer fund balance was reported at about $2,300,000. Staff also summarized debt and treasury positions, reporting roughly $59,000,000 in cash as of June 30 and increased interest earnings year over year.
Council thanked staff for the clear presentation; no formal action was required beyond receipt of the report.
