Agenda

Back to Calendar Return

City Council Regular Meeting

Meeting Date:

02/06/2024

BACKGROUND

Staff submits monthly Financial Statements to City Council. Attached are financial reports for October and November 2023.

OCTOBER and NOVEMBER 2023 Highlights:
Revenues are low for the City as the annual property taxes won't start coming in volume until December and January. The expenditures are coming in at a higher rate due to purchase orders encumbering funds for big purchases and annual contracts.

Sales taxes received for these 2 months average 7.4% growth, which is above both the long term average for Schertz of 7.2% and above the budgeted estimate of 7%.

Utility fees in the Water & Sewer Fund are growing at 3% matching rate increases and are matching the estimated revenue budget.

The EMS Fund's revenue and expenditures are keeping pace with one another during this time frame.

The PEG Fund will need a budget adjustment to account for the roll-over of the Master Communication Plan project approved in FY 2022-23 and staff will bring this forward at the next quarterly budget adjustment.

Further details can be found in each monthly report.

Attachments
October 2023
November 2023