Cedar Park Council gets rosy financial report

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Kent Meredith, Cedar Park's director of finance, presented the Cedar Park City Council with a rosy financial picture at their Thursday meeting. 

"Revenues were better than expected and expenditures were lower than expected," Meredith told the council as a part of his second quarter financial report. “The financial health of the City of Cedar Park is excellent. Our city continues to grow at a healthy pace and we’ve done a great job forecasting the additional public safety and service needs of our community and providing those services within the limited revenues we have available."

Meredith told the city council that general fund revenues for the city during the second quarter of 2017 were above expectations. Ad valorem tax revenues were in line with projections but sales tax revenues were 7.8 percent higher than the same period last year, Meredith said.

"Our property taxes came in at the level we expected, while sales taxes are beating our expectations," Meredith said. "The water and wastewater utility fund is also healthy.  The models we used for revenue and expense forecasting in the Utility Fund has proven to be extremely accurate."

It took a team effort from the mayor, city council and staff to build a sustainable budget for fiscal year 2017, Meredith said.

"As we enter our FY 2018 budget cycle, we intend to continue using the budget tools that have proven useful," she said. "We’ll include our council very early in the process to make sure we’re able to address their priorities as early as we can. We’re planning to stick to our plan and will keep the city's growth needs in mind while we move forward."

Other Business

Among other items before the Cedar Park City Council Thursday was a first reading and public hearing on a request to rezone 25.06 acres on Scottsdale Crossing east of 183A from general office and open space to general retail. The proposal had been approved previously by the planning and zoning commission. The city council did not vote on the proposal Thursday.

Also up for a first reading and public hearing was a proposal to change the future land use designation of 35.12 acres at the northwest corner of the intersection of Brushy Creek Road and West Palmer Lane to allow for the development of residential housing and some retail restaurant locations. The council did not vote on the proposal.

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