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Itasca reports strong first-quarter revenues; cash position about $44 million
Summary
Finance staff reported that first-quarter revenues were ahead of budget in several categories (sales, utility and hotel taxes, permit fees and interest) while expenditures trended lower in some areas; pooled cash stood at about $44 million at quarter end.
Village finance staff presented a quarter‑end summary showing revenues ahead of budget for the first three months of the fiscal year and a pooled cash balance of just under $44 million.
The report matters because it informs budget monitoring, capital planning and the timing of ongoing projects that depend on available funds.
Trustee Powers summarized highlights: sales tax collections and non-home-rule sales tax were favorable compared with the prior year; utility-tax receipts were about $200,000 above budget;…
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