21-0302_TYLER TECHNOLOGIES, INC._PowerPoint_F1aSecond Quarter Financial Report
Item F1a
March 2, 2021
Financial Status of General Fund
•Projected available fund balance -$21.7 million
•$1 million reduction in annual personnel costs
•$1.2 million increase in projected 20/21 sales tax revenue
•$254,000 increase in development related revenues
•Reduced litigation expenses
2
Financial Status of General Fund
•Growth in reserves over past three years
•Continued uncertainty regarding global pandemic
timeline and related economic impacts
•Updated reserve policy
•Development of Fiscal Year 2021-22 Budget
3
Utility Funds
•Water Fund –Revenues exceed expenses by $2.8 million
•Sewer Fund -Revenues exceed expenses by $200,000
•Surplus funds invested in water and sewer infrastructure
4
Information Technology Security Measures
•Upgraded network architecture
•Upgraded server architecture
•Fiber redundant internet connectivity
•Migrating to Office 365 email system (cloud-based email)
•Upgraded phone system
•Establishment of a computer equipment replacement program
•Disaster and ransomware recovery policies
5
Replacement of Finance-Human
Resources System
•Replaces out-of-date 12-year old system
•On premises hardware vulnerable to security breaches
•Replace with secure cloud-based system
•Next generation functionality
•Virtually paperless payroll and vendor invoice processing
•Use $648,000 of $1.8 million Facilities Operation Fund Balance
•$45,000 increase in annual support costs
6
7
Recommendations
1.Receive and file second quarter financial report
2.Approve proposed budget adjustments
3.Approve and authorize the City Manager to execute Tyler
agreement
4.Appropriate $648,000 from Facilities Operation Fund to
upgrade Finance-Human Resources system
Thank you
QUESTIONS?