Title
Present the Fiscal Year 2024-25 Fourth Quarter Financial Report and Fiscal Year 2025-26 First Quarter Grants Update.
Body
REQUESTOR:
Deputy Mayor Pro Tem Roger Neal
BACKGROUND:
Finance Staff will present the unaudited and preliminary results for the Fiscal Year 2024-25 Fourth Quarter Financial Report. The Finance team is performing year-end financial close-out procedures. Audited results presented in the Annual Comprehensive Financial Report (ACFR) will vary from this fourth quarter report.
Also included in this presentation is an update on the City’s grants. The City’s total grant award amount for the Fiscal Year 2025-26 First Quarter Financial Report is $38,898,111.
Below is a summary of the City’s larger grants:
• Economic Development Administration (EDA) - Venue 1842 Grant
o In the closeout process
• Texas Parks and Wildlife Grant - Joya Park
o Exploring additional purchases in line with the grant budget
• Texas Department of Emergency Management - Cooks Creek
o FEMA has reviewed and approved the reimbursement cost, waiting for official documentation of this decision
• American Rescue Plan Act
o All project funds have been obligated, as required by Federal deadlines, and are currently expending on obligated amounts
• Texas Event Trust Fund - Pickleball World Championship Grant (2025)
o Finalizing required documentation for submission to the State
DISCUSSION:
Council will review and discuss the Fiscal Year 2024-25 Fourth Quarter Financial Report and Fiscal Year 2025-26 First Quarter Grants Update. Staff will be available for any questions the Council may have.
FISCAL IMPACT:
Grant-funded projects total amount: $38,898,111
City’s matching funds: $3,715,638
Grant agency-provided funds: $35,182,473
ATTACHMENT(S):
1. Fiscal Year 2024-25 Fourth Quarter Memorandum
2. Presentation