Title
Presentation regarding the Pflugerville Community Development Corporation (PCDC) FY24 Fourth Quarter Financial Reports.
Summary
Per PCDC bylaws, each quarter the Executive Director or designee shall present a financial update for the current fiscal year to the City Council at a regularly scheduled City Council meeting.
These Financial Reports are preliminary pending fiscal year-end closing entries.
Total actual revenue is exceeded the budgeted amount by $3.6M, this amount can be attributed to the sale of land ($2.8M) and additional interest earned. Sales tax revenue is 99% of budget.
Total actual expenditures is below budgeted by $2.1M, this amount can be attributed to capital project delays and economic incentives not met.
Prior Action
FY24 Q4 approved by the PCDC board on Nov. 20, 2024.
Supporting Documents
FY24 Q4 Financial Report
Balance Sheet as of September 2024
Staff Recommendation
Presentation only