Agenda

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21.

City Council Regular Meeting

Meeting Date:

04/02/2024

BACKGROUND

Financial Summary

December 2023 sales taxes increased by 3.9% following a slow down of economic growth in the area and nationwide. Other revenue across all funds are at or very close to target for this time of year. Expenditures are also on target in most funds. Staff will be addressing the expected overage in the PEG Fund caused by the Master Communication Plan expenditures approved in the previous fiscal year at the next quarterly budget amendment ordinance in June.

January 2024 sales taxes increased by 3.3% from the previous year. Overall, revenues and expenditures are in line with expectations at this time of the year. Budget % usage on the report includes capital items and one time purchases that have been ordered but not received. Staff is considering these purchases when estimating expected budgetary performance to date.

Attachments
December 2023 Financial Report
January 2024 Financial Report