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Committee forwards June vouchers and monthly financial report after review of REET spike and maintenance-facility spending
Summary
The committee forwarded accounts-payable and payroll vouchers and the June monthly financial report to the Aug. 12 consent agenda after financial staff described elevated AP totals tied to maintenance-facility construction and a one-time real-estate-excise-tax (REET) spike from a large property sale.
The committee voted 3-0 to forward June accounts-payable and payroll vouchers and the June monthly financial report to the Aug. 12 consent agenda after staff summarized the month’s unusual cash flows. Finance staff explained elevated accounts-payable totals in June were driven by construction draws on the city maintenance facility, including two large payments to the construction contractor.…
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