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THE COUNCIL WILL NOW RECESS INTO EXECUTIVE SESSION IN TRAINING ROOM A TO HOLD A CLOSED EXECUTIVE MEETING PURSUANT TO THE PROVISIONS OF VERNON'S TEXAS CODES ANNOTATED GOVERNMENT CODE, CHAPTER 551, THE OPEN MEETINGS ACT, IN ACCORDANCE WITH THE AUTHORITY CONTAINED IN SECTION 551.071 TO CONSULT WITH THE ATTORNEY TO RECEIVE LEGAL ADVICE AND DISCUSS LITIGATION.SECTION 551.087 TO DISCUSS ECONOMIC DEVELOPMENT MATTERS AND SECTION 551.072 TO DISCUSS REAL ESTATE MATTERS. THANK YOU. I NOW DECLARE THAT THE PLANO, CITY COUNCIL PRELIMINARY OPEN MEETING IS RECONVENED IN OPEN SESSION THAT ALL COUNCIL MEMBERS ARE PRESENT. OUR FIRST ITEM ON THE PRELIMINARY AGENDA IS CONSIDERATION AND ACTION RESULTING FROM THE EXECUTIVE SESSION.
OUR NEXT ITEM IS COMPREHENSIVE MONTHLY FINANCIAL REPORT FOR JUNE 2026.
ALISON. GOOD EVENING. I'M ALISON FRILEUX, ASSISTANT DIRECTOR OF FINANCE, AND THIS EVENING I WILL BE PRESENTING THE COMPREHENSIVE MONTHLY FINANCIAL REPORT AS OF JUNE 2026.
SO WITH THAT, I WILL GET STARTED. THIS SLIDE REPRESENTS OUR REVENUES COMPARED TO BUDGET BY FUND.
THE GENERAL FUND HAS REVENUES OF 340 MILLION, WHICH REPRESENTS 89.4% OF OUR TOTAL ANNUAL BUDGET.
PROPERTY TAXES ARE OBVIOUSLY OUR SIGNIFICANT PORTION OF OUR GENERAL FUND REVENUES.
THE WATER AND SEWER FUND HAS 174.4 MILLION IN REVENUES, REPRESENTING 67.3% OF OUR TOTAL ANNUAL BUDGET, AND THAT REFLECTS THE RATE INCREASE IN THE CURRENT FISCAL YEAR.
THIS SLIDE REPRESENTS OUR EXPENSES COMPARED TO BUDGET BY FUND.
THE GENERAL FUND HAS EXPENDITURES OF 257.7 MILLION FOR THE FIRST NINE MONTHS, REPRESENTING 69.4% OF TOTAL ANNUAL BUDGET, AND THE WATER AND SEWER FUND HAS EXPENSES OF 133.4 MILLION, REPRESENTING 69.7% OF TOTAL BUDGET.
THIS SLIDE REPRESENTS THE NET CHANGE IN OUR FUND BALANCE FOR THE PAST THREE YEARS.
IN THE GENERAL FUND FOR THE FIRST NINE MONTHS OF THE FISCAL YEAR, THE FUND BALANCE HAS INCREASED TO 63.6 MILLION, WHICH IS HIGHER OVER PRIOR YEAR BY 1.4 MILLION.
CHANGING THAT FUND BALANCE FROM 30 DAYS TO 60 DAYS OF WORKING CAPITAL.
AND BASICALLY OUR WORKING CAPITAL IS OUR CURRENT ASSETS LESS ANY OBLIGATIONS THAT WE HAVE.
THE WATER AND SEWER FUND BALANCE HAS DECREASED BY 12.5 MILLION.
THIS IS LESS FAVORABLE THAN THE PRIOR TWO FISCAL YEARS FOR THE TIME, THE SAME TIME PERIOD.
THE GENERAL FUND REVENUES ARE HIGHER THAN PRIOR YEAR BY 21.8 MILLION.
THERE WAS AN INCREASE IN PROPERTY TAX REVENUES OF 16.1 MILLION.
SALES TAX REVENUES HAVE INCREASED $5.5 MILLION THROUGH THIRD QUARTER COMPARED TO PRIOR YEAR, DUE TO INCREASED CONSUMER AND BUSINESS SPENDING, AS WELL AS POSITIVE AUDIT ADJUSTMENTS AND AUDIT ADJUSTMENTS ARE DONE BY THE STATE COMPTROLLER'S OFFICE WHEN SALES TAX IS BEING REPORTED IN THE WRONG JURISDICTION.
SO THESE CORRECTIONS MAKE THAT CORRECT THAT ERROR AND SO THEY COULD BE POSITIVE OR NEGATIVE.
GENERAL FUND EXPENDITURES ARE HIGHER THAN PRIOR YEAR BY $15 MILLION.
PERSONNEL COSTS INCREASED BY 10.4 MILLION DUE TO ACROSS THE BOARD PAY INCREASES, AS WELL AS A HIRING FREEZE THAT WAS IN PLACE LAST FISCAL YEAR AND LIFTED IN JANUARY OF 2025. THE HEALTH CLAIMS FUND HAD A DECREASE IN FUND BALANCE OF ABOUT 1.5 MILLION.
REPORTING THE FUND BALANCE AT 4.9 MILLION. CLAIMS EXPENSES ARE UP AS WELL AS REVENUES.
WE ARE EXPECTING SOME SIGNIFICANT STOP LOSS REIMBURSEMENTS TO HELP OFFSET OFFSET SOME OF THOSE EXPENSES, AND WE ARE SEEING OVERALL POSITIVE CHANGES IN THIS FUND DUE TO PLAN DESIGN CHANGES TO ASSIST WITH COST SAVINGS.
THE UNEMPLOYMENT RATE IN JUNE FOR PLANO WAS AT 4.5%, WHICH IS HIGHER THAN PRIOR QUARTER AT 3.8%.
THE LOCAL UNEMPLOYMENT RATE IS STILL TRENDING BELOW METROPLEX AND STATE LEVELS.
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HOWEVER, YEAR TO DATE WE ARE UP IN COLLECTIONS BY 5.5 MILLION.THE REAL ESTATE MARKET RECAP SHOWS THAT THE NUMBER OF DAYS ON THE MARKET IS 36 DAYS IN JUNE, WHICH IS DOWN FROM THE 43 DAYS IN MARCH. THE PERCENT OF ASKING WAS AT 98% IN JUNE, WHICH IS SLIGHTLY DOWN FROM THE 98.4% WE SAW IN MARCH. THE MEDIAN SELLING PRICE FOR A HOME IN PLANO WAS $529,750 IN JUNE, WHICH IS UP COMPARED TO $490,000 IN MARCH.
AND THE PRICE PER SQUARE FOOT REMAINED INCONSISTENT FROM MARCH TO JUNE AT $220.
OUR YEAR TO DATE HOTEL OCCUPANCY TAX COLLECTIONS ARE UP $329,000 COMPARED TO PRIOR FISCAL YEAR.
AND THIS SLIDE REPRESENTS OUR EQUITY AND TREASURY POOL.
AND AS YOU CAN SEE, OUR LARGEST CATEGORY IS OUR CAPITAL PROJECTS WHICH IS 33%.
AND THIS IS OUR PORTFOLIO WITH OUR MATURITIES.
AS YOU SEE, WE HAVE A LOT OF LIQUIDITY IN THAT 0 TO 1 YEAR CATEGORY AT 52% TO MAKE SURE THAT WE HAVE CASH AVAILABLE TO PAY INVOICES, PAYROLL, AND HAVE THE AVAILABILITY WHEN WE NEED THAT.
AND THIS SLIDE IS BASICALLY OUR DIVERSIFICATION OF OUR PORTFOLIO.
WE ARE ABLE TO ACHIEVE A BETTER YIELD WITH THESE TWO CATEGORIES.
THEY ARE HIGHLY LIQUID. AND MOST IMPORTANTLY, THIS IS JUST A DEMONSTRATION OF HOW WE ARE DIVERSIFIED, HOW WELL WE ARE DIVERSIFIED, AND THAT'S WHAT WE WANT TO SEE.
SO WITH THAT, I WILL BE HAPPY TO ANSWER ANY QUESTIONS YOU MAY HAVE.
THANK YOU SO MUCH. APPRECIATE IT. ANY QUESTIONS FOR STAFF? THANK YOU VERY MUCH. OUR NEXT ITEM IS THE CONSENT AND REGULAR AGENDAS.
IS THERE ANY ITEM A COUNCIL MEMBER WOULD LIKE TO REMOVE? NEXT ITEM IS COUNCIL ITEMS FOR DISCUSSION AND ACTION ON FUTURE AGENDA ITEMS. WITH THAT, WE WILL TAKE A RECESS AND RETURN AT 7:00.
* This transcript was compiled from uncorrected Closed Captioning.