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Englewood reports $4 million operating surplus, sales tax flat through July
Summary
Director of Finance Kevin Ingalls told council the city is about 58% through its fiscal year with revenues tracking at roughly 63.4% and an operating surplus of about $4 million through July; council asked for clearer local-vs.-nonlocal business sales-tax reporting.
Director of Finance Kevin Ingalls told the Englewood City Council on Sept. 2 that as of the July monthly financial report the city was about 58% through the fiscal year and revenues were “tracking a little higher” than budget, about 63.4% of budgeted revenue. “Overall, our revenues are tracking a little higher than that, about 63.4,” Ingalls said, noting revenues were about $1.4 million higher than the prior year and that the city’s operating surplus stood at roughly $4 million through July.
The July report showed sales and use tax collections roughly flat year over year, Ingalls said, with the use tax down partly because 2024 included a roughly $600,000 one-time audit collection. “The use tax, yes, it…
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