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Finance director: Tumwater ended 2023–24 biennium stronger than budgeted; 2025 sales-tax pace under close watch
Summary
Finance Director Troy reported the city closed the 2023–24 biennium with revenues and expenditures both better than expected, including $3.2 million more in sales tax than budgeted; early 2025 receipts are slightly below seasonal expectations and will be monitored closely.
Finance Director Troy briefed the Tumwater City Council on April 8 with a quarterly financial update that covered how the city closed the 2023–24 biennium and the early 2025 revenue picture.
Troy said the city intentionally budgeted conservatively for the 2023–24 biennium expecting a recession that did not materialize; the result was roughly $5.7 million more general-fund revenue than budgeted and about $5.6 million under budget in general-fund expenditures for the biennium. On sales tax specifically he reported about $3.2 million more in receipts than originally budgeted for the…
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