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Mill Creek reports year-to-date surplus after first levy distribution; sales tax slightly down
Summary
Finance director told the council the city’s revenues exceeded expenditures for the first time in the fiscal period after receiving the first 2025 levy distribution; sales tax is slightly below expectations while REIT and charges-for-service were up.
The city’s finance director briefed the Mill Creek City Council on May financials, reporting that year-to-date revenues exceeded expenditures by about $235,000 after the first cash distribution from the 2025 levy.
The director said the city received roughly 52% of the 2025 levy amount in the first distribution. Sales-tax receipts were about $5,000 below expectations, which the director attributed in part to a lower regional consumer-price index (Seattle CPI about 1.7% versus national 2.4%). Offsetting that, charges for services (including recreation and passport fees) rose with summer activity, licenses and permits were up, and miscellaneous investment income was stronger than expected; the LGIP rate cited was 4.37%.
The report noted that general-fund expenses remain below benchmark and that salaries and benefits account for a substantial share of the budget. The finance director also highlighted REIT revenues, which are about $600,000 year-to-date and roughly $90,000 higher than the same period last year. Surface-water fees were reported higher than budgeted as well.
Ending: The finance director offered to answer council questions; council members praised the finance team’s projections and said overall financial indicators showed no immediate fiscal risk.
