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University City finance director reports second-quarter revenues up; police overtime tied to vacancies
Summary
Finance Director Keith Cole told council that general fund revenues were about 48.1% of budget as of Dec. 31, 2024, with increases in permit fees, service charges and interest. He and council discussed police staffing shortfalls of about 10 officers and several fund-level variances tied to development and TIF receipts.
Keith Cole, finance director for University City, presented the city’s second-quarter financial report covering revenues and expenditures through Dec. 31, 2024.
Cole said general fund year-to-date revenues were $12,225,001.55, or 48.1% of an adjusted budget of $25,390,007.50, representing a roughly $1.3 million increase from the same quarter in FY2024. He attributed the rise to higher building and zoning permit fees ($253,000), a $174,000 increase in service charges (including ambulance services), $94,000 in interest revenue and $841,000 in other revenues tied primarily to development-related fees and a settlement from the St. Louis Area…
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