City financial staff told the Board of Alders Finance Committee on Sept. 8 that the July monthly financial reports show no unexpected gaps and that overall revenues and expenditures are tracking close to budget early in the fiscal year.

Staff said property-tax collections were in line with expectations after the July major collection and cited a July intake figure referenced in the presentation as about $167 million in property-tax receipts during the primary collection period; staff cautioned that it is early in the fiscal year and that fund balances such as litigation and workers’ compensation can show timing-driven variances.

Committee members asked when year-end closeout details and any required transfer requests would be available. The director of management and budget said the formal closeout process begins Sept. 17 and that definitive year-end transfer recommendations should be available in October; staff said they would aim to present results at the committee’s next meeting.

The committee read and filed the July financial report and asked staff to return with the closeout and transfer documentation in October once closeout projections are finalized.