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First‑quarter report: Lakewood general fund balance rises to $15 million on development fees; city cautioned to remain conservative
Summary
City staff reported a March 31, 2025 general fund ending balance of $15 million driven largely by higher development services fees tied to Western State Hospital activity. Interim city manager advised continued spending caution; Transportation Benefit District receipts were down early in the year due to state system conversion, staff said.
Lakewood, Wash. — Interim city finance staff presented the city’s first‑quarter financial report on June 16, showing an operating revenue increase compared with 2024 and a March 31 ending general fund balance of $15 million.
Interim Finance Director (Interim City Manager Miss Krause presented the report) told council the largest revenue increase through March…
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