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City finance staff: general-fund revenues lagging, expenses offset variance so far
Summary
Quarterly variance report shows general fund revenues about 1.1% below budget through June while expenses are about 1.8% favorable, leaving reserves and 2026 planning as the next focus.
City finance staff told the City Council Finance & Administration Committee that general-fund revenues are running modestly behind plan through the first half of the year, while department underspending has so far reduced the impact. Jessica Stratton, a city staff member who presented the second-quarter variance report, said the report compares “year to date budget to year to date actuals. It is not a projection.” She and staff emphasized that accounting practices (cash versus year-end accruals) make midyear comparisons different from final results. The nut graf: the city’s general fund had received roughly 40% of the annual budgeted revenues through June…
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