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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Bill Greene, Chief Financial Officer |
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PRESENTER(S): |
Brad Armstrong, Director Budget & Financial Strategy |
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TITLE:
title
Financial Report - January 2023
end
AGENDA ITEM TYPE:
Report
RECOMMENDATION:
Informational report for discussion
BACKGROUND:
The Board of Trustees Policy No. 2.1, Financial Management, directs the Chief Financial Officer to present monthly financial statements stating the Authority’s financial position, revenues, and expense to the Board of Trustees as soon as practical with monthly and year-to-date budget versus actual report to be included in the monthly financial report. The January 2023 Monthly Financial Statements have been prepared in accordance with the Financial Management Policy and are being presented to the Board. Also provided, is the monthly Board Dashboard which summarizes key information from the January 2023 Monthly Financial Statements and the January Variance Analysis detailing key budget variances.
DISCUSSION:
At the March 22 meeting, the Director of Budget & Financial Strategy will review the Board Dashboard key items, passenger revenues, sales tax collections and operating expense variances and receive questions from the Board of Trustees.
The January Capital program delivery discussion will be combined with the February report as vendors and staff have been focused on invoicing and payments for 2022 to ensure all capital expenses are captured in the correct fiscal period. As such, and as is typical, January capital budget and expenses were nominal.
ALTERNATIVES:
n/a
FISCAL IMPACT:
n/a
ATTACHMENTS:
• January 2023 Board Dashboard
• January 2023 Monthly Variance Analysis
• January 2023 Monthly Financial Statements