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Board of Finance hears September financials, approves transfers and meeting schedule
Summary
The Board of Finance reviewed September year-to-date revenues and cash-management strategies, heard that general-fund interest receipts are ahead of budget for the first quarter, and approved a series of transfers and the 2026 meeting schedule; the board also authorized end-of-year journal entries to close prior fiscal activity.
The Board of Finance on Tuesday reviewed September financial results and a quarterly cash-management update that showed general-fund interest income ahead of the pace assumed in the current budget and approved multiple transfers to close out fiscal 2025 activity.
The finance staff reported year-to-date general-fund revenue of approximately $94.1 million and current tax collections of about $88.9 million. Building-permit revenue stood at roughly $298,000 and conveyance fees at about $731,000. Parking-permit revenue was reported at $638,000. On interest income, staff said an initial $250,000 entry plus additional statement-driven receipts bring realized interest posted in August/September to a higher total; the staff summary showed general-fund interest of about $662,000 year to date against a budgeted $1.8 million for the fiscal year.
Treasury…
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