Title
Presentation regarding the Pflugerville Community Development Corporation (PCDC) FY24 Q2 Financial Report.
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. Total revenue is 69% of the budget which includes Sales Tax revenue at 47% of the budget based on actual Sales Tax from October to January and estimated Sales Tax for February and March, Interest income at 112% of the budget and Gain on Sale of Land, $2.8M. Total expenditures are at 38% which is historically normal as most expenses are expected in the 3rd and 4th quarters.
Prior City Council Action
Approved FY24 Budget on August 22, 2023.
Supporting documents attached:
YTD Income & Expenses Report
Balance Sheet
Cash Flow
Investment Report
Sales Tax Report.
Recommended Action
Presentation only