Hotel/Motel and Local Option revenues up
The year 2022 was a very good one for the City of Clear Lake.
Monday night the City Council heard results of the recent City audit, as well as a financial report presented by its Director of Finance and Administrative Services Creighton Schmidt.
“Overall, it is a very good year fiscally for the City,” Schmidt told the Council.
Total revenues associated with the report were $17,862,226; expenditures were $15,006,443; and transfers were $928,263.
The City’s General Obligation debt limit, as of June 30, 2022, was $58,144,544; however, the City has only used $4,084,500 off that capacity.
Schmidt noted that it is recommended cities stay below 70 to 80 percent of their General Obligation debt limit. The City of Clear Lake is at 7 percent of its General Obligation debt limit.
“Single digits is very good and puts us in a position to do some big projects moving ahead,” said Schmidt.
Schmidt also reported hotel/motel taxes exceeded estimates by $71,000.
“Our local hotels have recovered well from COVID and we also have the addition of the Fairfield Inn,” he said. “Local Option taxes exceeded estimates by $142,000.”
The City also saw increases in the Road Use Tax, which was better than estimated by $29,000.
Ambulance fees were $64,000 better than budgeted and pool revenues beat the budget by $20,000. Wellness Center membership fees exceeded the budget by $16,000 and Water services exceeded the estimate by $78,000. Collection on assessments exceeded the estimate by $78,000 and in the miscellaneous
category forfeitures exceeded the budget by $66,000.
Under expenditures, police, public works and recreation departments were under budget.
According to Schmidt, the Police Department was under budget by $193,000; $125,000 under in wages/benefits; $20,000 under in capital equipment purchases; $48,000 in other operational expenses.
The Fire Department was under budget by $39,000; wages/benefits under by $15,000, capital under by $8,000 and other operations expenses were under by $15,000.
The following areas were under budget in the Public Works Department: wages/benefits $109,000; contracted services (street maintenance) $76,000; subdivisions $30,000; sidewalk improvements $43,000.
The following areas were under budget in the culture and recreation area: the Everybody Plays Park originally had $900,000 budgeted for fiscal year 2022, however the project will not incur significant spending until FY 2023. The Wellness Center also had a few projects budgeted for $130,000 that will roll into the fiscal year 2023 budget.
