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City financial update: revenues exceed budget, fund balance up amid storm-related expenses to come
Summary
Finance staff reported that year-to-date revenues of about $11.4 million exceed expenditures of about $10.3 million, an increase in fund balance of roughly $834,839 as of June 30; storm response and upcoming debt service payments were identified as near-term expenditures.
City finance staff presented a midyear financial report showing revenues above expenditures and a modest increase in fund balance, while noting several pending storm-related costs and scheduled debt payments.
A finance staff member reported total revenues of $11,400,000 and total expenditures of $10,356,000 as of June 30, producing an $834,839 increase in fund balance. "Overall total revenues are at 11,400,000 at this point. Above…
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