TO: Board of Trustees
FROM: Bill Greene, Chief Financial Officer
PRESENTER(S): Bill Greene, Chief Financial Officer
Brad Armstrong, Sr. Manager Budget and Financial Analysis Dan Hofer, Manager Capital Assets and Project Controls
TITLE:
title
Financial Report - May 2021
end
AGENDA ITEM TYPE:
Reports
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 May 2021 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 preliminary May 2021 Monthly Financial Statements. Beginning this month, staff will be reporting on capital program delivery using tools created by the Project Controls Group. This report will compare planned and actual capital program delivery based on project cash flow projections. A dashboard summarizing capital program delivery through May 2021 is included as an attachment.
DISCUSSION:
At the July 14, 2021 meeting, the Senior Manager Budget and Financial Analysis 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 Manager of Capital Assets and Project Controls will provide a capital program delivery report outlining the process used to develop the report and the results through the end of May 2021.
ALTERNATIVES:
N/A
FISCAL IMPACT:
ATTACHMENTS:
1. May 2021 Operating Dashboard 2. May 2021 Capital Program Delivery Dashboard 3. May 2021 Monthly Financial Statements (Preliminary)