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Montgomery finance staff: city projects to finish year with modest revenue gain and stronger reserves
Summary
City finance presenter told the council that sales and use tax and lodging tax are up year over year, gasoline and alcohol taxes dipped, and overall revenues are projected about 1% above budget while expenditures are expected to be below budget, increasing the city's fund balance.
A staff member delivering the City of Montgomery's financial update told the City Council that the city's total revenues are projected to finish the fiscal year roughly 1% above budget, or nearly $2.3 million more, while expenditures are tracking about $2.8 million below budget.
The presenter said sales and use tax collections have grown nearly 5% compared with the same period last fiscal year and are about 2% above April,…
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