Board of Estimate and Taxation

Location unavailable

• Received and discussed the 2024 Second Quarter Financial Status Report. Key financial highlights included:

  • Continued financial recovery from the pandemic
  • Reaffirmation of AAA bond rating
  • Rebounding parking revenues
  • Local taxes are projected to exceed the 2023 amount and budget for the third consecutive year
  • ARPA spending is on track to be fully obligated by the end of 2024
  • Book value of cash and investments at approximately $1.1 billion

• Discussed various fund balances, including the General Fund, Special Revenue Funds, Internal Service Funds, and Enterprise Funds.

• Concerns were raised about the negative net position of the Self-Insurance Fund.

• Postponed approval of the Information Request Protocol to the December 11th meeting pending legal review.

• President Brandt announced ongoing delays in filling the Executive Secretary position for the Board.