Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Rowlett reports stronger-than-expected revenue in third-quarter financial update
Summary
City staff told the Rowlett City Council the city has collected $136 million in revenue through June 30 — 88% of the $156 million budget — and is $6.1 million ahead of the third-quarter forecast, driven mainly by property tax collections and higher interest earnings.
Rowlett staff presented the comprehensive financial report for the period ending June 30, reporting $136,000,000 in revenue — roughly 88% of the $156 million annual budget — and $113,000,000 in expenses.
The finance presenter said general fund revenues exceeded the third-quarter forecast by $6.1 million, attributing $3.2 million of the variance to property tax receipts and about $148,000 to sales tax. "Property taxes represent 60% of the general fund revenue budget and serve as a primary funding source for the general government," the presenter said. Councilors asked about a departmental overage in the city manager's office; staff confirmed the variance reflected a severance payout and accrued leave after the former city manager's departure. The council thanked staff for the presentation and accepted the report.
