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April finance update: sales‑tax growth slows, opioid settlement receipts expected, streets fund below prior year
Summary
Finance staff reported April results showing sales‑tax growth slowing to 2% year over year and running about 4% below budget, expected opioid settlement receipts of about $450,000 by the end of Q2, and the streets fund running 16% below prior year with a lower balance than preferred.
Kristen Garcia, finance staff, briefed the council on April financial results and key revenue trends. She said sales‑tax growth slowed to about 2% year over year (April reflects February consumer spending) and was running roughly 4% below the adopted budget; retail activity remains about 4% below prior levels.
Garcia…
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