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Shelton finance director: January report shows lower sales tax receipts and reliance on one-time funds to balance 2025 budget
Summary
Finance Director Mike Evans presented the city's January 2025 financial report on March 18, reporting a beginning general-fund balance just over $6.4 million, projected ending balance about $5.4 million and early signs of lower sales-tax receipts compared with 2024.
Mike Evans, Shelton's finance director, presented the city's first financial report for fiscal-year 2025 (January data) at the March 18 meeting, telling the council the general-fund beginning balance was just over $6.4 million and that staff currently estimates a year-end general-fund balance near $5.4 million.
Evans told the council staff prepared the report with conservative assumptions. He highlighted a 20% reserve set aside per council policy and noted the report breaks the beginning and ending balances into reserved and unreserved portions to show available one-time resources. Evans said that, as…
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