City budget finishes first half of fiscal year very strong

Beverly Bryant - March 13, 2019 2:46 pm

Ponca City’s  city budget was very strong for the first half of the fiscal year ending Dec. 31, 2018, Controller Pam Jones reported to the City Commission Monday night.

Most budget funds were right on budget for the period, Jones said. Some exceptions were noted in accounts where large projects are pending for the second half of the year and money is being saved for those, she said.

Of all the budget funds, the General Fund is the largest. Departments of the General Fund account for activity not provided for by other designated funds, and typically include services deemed necessary to the community that cannot operate solely on user charges. Primary functions of the General Fund are General Government, Public Safety, Streets, and Culture and Recreation.

The two main sources of revenue for the General Fund are from sales tax and residual equity transfers from the Ponca City Utility Authority.

General Fund revenues totaled $11,172,598 at the close of the second quarter, or 49.60% of budget. Sales tax collections were $3,843,197 and represent a decrease of approximately 2.74% over the same period of the prior fiscal year, which is slightly ahead of budget.

General Fund expenditures closed the second quarter at $11,367,860, or 45.12% of budget. When factoring out seasonal issues and timing of budgeted capital purchases, no department is materially off of their budget, Jones said.

 

 

Latest Stories

NWS to add categories to alerts for ‘destructive’ thunderstorms

OKLAHOMA CITY (KFOR) – Oklahoma is no stranger to severe weather across the state, and the...

How Oklahoma evictions might spike after July

OKLAHOMA CITY (AP) — A federal freeze on most evictions that was enacted last year is...

Texas board votes to accept invitation to SEC; OU on deck

The board of regents for the University of Texas voted unanimously Friday to accept an invitation...