City 's Revenue and Expenses on Par with 2019 Budget and Council Approves Resolution to Establish a Budget Schedule
The City’s 2019 revenues and expenditures are on track with the 2019 budget through September, according to a staff report by Interim Finance Director Heidi MacDonald. Finance updates, similar to the one in this report, will be made available on a regular basis after Council unanimously passed a resolution to develop a budget calendar.
The Yelm Finance Committee developed a proposed budget calendar to continue providing predictability and planning for future budgets, with an additional emphasis on establishing City Council retreats to establish priorities and surveys to solicit feedback from the community to inform Council decision making on the budget process.
MacDonald’s report showed the City is on a sustainable path through the first nine months of 2019 as the City has received $17.4 million in revenue, while expenditures total $16.2 million.
To date the City has received 80 percent of the expected revenues and spent 65 percent of the total budgeted expenses for 2019. In the same report, MacDonald announced the audit for 2018 was completed on Oct. 11 and an exit interview is scheduled for Nov. 1. More details regarding the audit will follow the exit interview.
The Finance Department is currently working to compare the 2019 year-to-date revenue and expenditures to the biennial budget and prepare budget amendments needed. The amendments will come before Council by the end of the year.
As we continue to increase government transparency and provide predictability and planning for future budgets, the Finance Department will prepare a budget calendar that will prepare updates using year-to-date actual revenue and expenditures in March, July, and November of every year.