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TO: |
Board of Trustees |
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THROUGH: |
Mary DeLoretto, Acting Executive Director |
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FROM: |
Bill Greene, Chief Financial Officer |
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PRESENTER(S): |
Bill Greene, Chief Financial Officer |
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Brad Armstrong, Senior Manager Budget & Financial Analysis |
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Dan Hofer, Capital Assets and Project Controls Manager |
TITLE:
title
Financial Report - July 2021
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 July 2021 Monthly Financial Statements have been prepared in accordance with the Financial Management Policy and are being presented to the Board.
Also provided, are the monthly Board Dashboards for Operating and Capital which summarize key information from the July 2021 Monthly Financial Statements and depict capital delivery progress.
Beginning in June of 2021, UTA began reporting on Capital Program delivery progress. Included in the September 8 presentation will be an update on Capital Program delivery through the month of July and, per Board Request, staff will provide project updates on select projects. This month, staff will be providing the Board an update on two elements of the Rail Infrastructure Program - Rail Rehab and Replacement and Grade Crossing Replacements.
DISCUSSION:
At the September 8, 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 Capital Assets and Project Controls Manager will be providing the Capital Program Delivery Update and address Board questions.
ALTERNATIVES:
n/a
FISCAL IMPACT:
n/a
ATTACHMENTS:
• July 2021 Board Dashboard
• July 2021 Monthly Financial Statements
• July 2021 Capital Program Delivery