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Milton staff reports first-quarter 2025 finances show most funds near expected levels, property taxes lag
Summary
Interim finance staff presented Milton's first-quarter 2025 fund-by-fund report, saying most revenue and expenditure categories are near a 25% baseline while property-tax receipts and several impact-fee and REET accounts remain below budget.
Interim Director Robec presented the City of Milton's first-quarter 2025 financial report at the council study session on Monday, saying most funds are tracking near the 25% baseline while a few revenue categories lag. "The baseline activity in the operations funds is 25% of budget amounts," Robec said.
The report matters because it sets expectations for council decisions on midyear adjustments and capital projects: revenues and expenditures that deviate from the 25% baseline can affect planned transfers and capital work later in the year. The presentation covered the general fund, utilities, capital funds and several special funds.
Robec told council that general fund revenues were 21.4% of budget at the end of the quarter, below the 25% baseline primarily because property-tax receipts have…
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