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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer |
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Brad Armstrong, Director, Budget & Financial Strategy |
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Dan Hofer, Director, Capital Assets & Project Controls |
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Greg Andrews, Senior Capital Budget Analyst |
TITLE:
title
Financial Report - Preliminary December 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 preliminary December 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 preliminary December 2023 Monthly Financial Statements.
DISCUSSION:
At the March 13, 2024, meeting, the Chief Financial Officer 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 Director of Capital Assets and Project Controls will also review the status of capital projects for preliminary December 2023 and receive questions from the Board of Trustees.
Note: UTA is in the process of closing the 2023 financial books, which takes several months after the close of the fiscal year ending December 31. As a result, the financial results presented for Decemberare preliminary. Final results for 2023 will be presented at a later Board meeting after the year-end close is completed and results have been reviewed by UTA’s external auditors.
ALTERNATIVES:
n/a
FISCAL IMPACT:
n/a
ATTACHMENTS:
• Preliminary December 2023 Board Dashboard
• Preliminary December 2023 Monthly Financial Statements