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Town’s July report shows $1.28M cash, projected fund balance decline; personnel costs top expense
Summary
Financial consultants told the Pinetop Lakeside council that July general fund cash was $1.279 million and projected to decline; personnel costs account for roughly 72% of operating expenditures and the town faces a projected budget gap without corrective measures.
Pinetop Lakeside’s financial consultants presented the July 2025 report to the Town Council on Tuesday, showing general fund cash of $1,279,000 and a projected use of fund balance through the fiscal year. Sarah Simonton and Gabe Muldorf of the James Vincent Group told the council that sales tax was down about 6.2% year over year in July, and that the town’s cash position declined by about $133,000 from June to July — a timing effect…
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