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Shelton reports favorable July finances; permits and investment yields boost revenue but reserves are being drawn
Summary
Interim Finance Director Jerry Schuster reported that the city’s July financials show favorable variance driven by one‑time permit revenue and investment income; the city’s LGIP balance is about $18.85 million and two bonds totaling $800,000 are due next week.
Shelton — Interim Finance Director Jerry Schuster told the Shelton City Council on Sept. 16 that July financial reports show a favorable variance driven by permitting activity and higher investment returns, but cautioned that some fund balances are being drawn down for one-time needs.
Schuster reported the city’s Local Government Investment Pool (LGIP) balance at…
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