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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
Brad Armstrong, Senior Manager Budget & Financial Analysis |
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TITLE:
title
Financial Report - February 2022
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 February 2022 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 February 2022 Monthly Financial Statements.
DISCUSSION:
At the April 13, 2022 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.
There will not be a capital budget update at this time. The Service Delivery team is currently updating the 2021 Capital program budget carryforward estimates and revising the 2022 project expenditure plans. The Manager of Capital Assets and Project Controls will provide a capital program report detailing program delivery results through March 2022 in May 2022.
ALTERNATIVES:
N/A
FISCAL IMPACT:
N/A
ATTACHMENTS:
Board Financial Dashboard
February 2022 Financial Statements