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Mount Pleasant council hears May financial report; sales-tax shortfall and fleet leases flagged
Summary
City staff told the Mount Pleasant City Council on June 17 that the budget is broadly on track two-thirds through the fiscal year, but members raised concerns about lower-than-expected sales-tax receipts and recurring fleet lease costs and asked staff to identify savings.
The Mount Pleasant City Council on June 17 received a monthly financial report for the period ending May 31 and pressed staff to narrow revenue projections and identify possible reductions ahead of next year’s budget. The council heard that property-tax receipts are on schedule but sales-tax receipts are running behind projections.
The report, presented at the council meeting by finance staff, showed the city about two-thirds (66.7 percent) of the way through the fiscal year. The general fund’s year-to-date revenues were reported slightly above that pace, and expenditures were running lower than budgeted, producing a year-to-date surplus in the general fund. The utility fund likewise showed revenues roughly in line with the fiscal calendar. The city’s debt-service payments are concentrated in recent months,…
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