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City of Topeka presents first-quarter financial update; officials flag special-highway and health-insurance pressures
Summary
City budget staff reported the first-quarter fiscal position, noting flat sales tax (timing issue), higher franchise fees, increased property tax receipts driven by property-value growth and a mill shift, and pressure in the special-highway and health insurance funds; city leaders were asked to monitor vacancy-credit outcomes and fund balances.
City finance staff presented the City of Topeka’s first-quarter financial report at the May 6 governing body meeting, summarizing revenue and expense trends and highlighting several funds that will require continued monitoring.
Josh McInerney, division director of budget and finance, told the governing body that the year-to-date sales-tax numbers were largely a timing artifact: "we collect two months behind," he said, which made a direct quarter-to-quarter comparison misleading. Franchise fees from utility companies were "coming in way higher" than budgeted, he reported.
On property taxes, McInerney said the city collected about $2 million more…
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