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Finance director reports payroll savings and flat intergovernmental revenue in midyear update
Summary
City finance staff reported that general-fund revenues are tracking to budget, payroll savings of roughly $400,000 so far from unfilled positions, and intergovernmental revenues (state highway user funds and liquor tax) are slightly below prior years.
City finance staff presented a midyear fiscal update showing general-fund revenues roughly on track with the adopted budget and projecting payroll savings driven by unfilled positions.
Finance staffer Katie told the council the city is about halfway through the fiscal year with financials available through five months. She said enterprise and special revenue funds are predictable but the general fund is most sensitive to economic changes. "The good news is that our revenues are on track in…
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