Staff Report

Finance Department





February 2017




Meeting History

Mar 15, 2017 7:00 PM  City Council Regular Meeting
draft Draft

Finance Director, Ben Ronquillo, presented an overview of the preliminary Fiscal Year ending projections, noting that current figures were approximately 15% below the approved budget. He noted sales tax revenue is tracking as expected. He did note that there were still some transactions that have not been finalized, but he did not expect any significant changes.

Council Member Mahoney asked if the Commerce Center appeared to be holding its own. Mr. Ronquillo noted it is similar to last Fiscal Year.

Mayor Schoaf noted the Recreation Department’s budget appeared to be overspent and asked if he had an opportunity to do some future planning so we do not overspend. Mr. Ronquillo noted he started but the numbers were not complete. Mayor Schoaf requested next Fiscal Year’s budget for the Recreation Center be a primary focus.

Council Member Mahoney asked if business auditing was still ongoing. Mr. Ronquillo stated yes, however most audits do not result in additional taxes.

Mayor Schoaf raised a concern the Special Events budget was significantly over what was expected. Mr. Ronquillo noted the deficit was due to the Centennial celebration and was an anomaly.

Mr. Culbreth stated it appears more was spent than actually was. He stated the majority of the spending was from sponsorships (approximately $16,000) and not all the revenue was reported yet but the revenue would offset the cost.

Mayor Schoaf reiterated his concern and wants a closer look to ensure an accurate forecast for the next FY.

Council Member Mahoney asked if the final numbers were reported for the Native American Festival and Mr. Culbreth noted they were and it generated approximately $2,000.00 in revenue above expenses. Mr. Culbreth stated it was well received this year.