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Lebanon projects modest surplus; liquor-tax decline and franchise fees shift outlook
Summary
City finance director reported higher-than-expected utility and interest revenues but warned of declining state liquor tax shares; council discussed interfund loan to cover a general obligation bond shortfall and noted GO bond ends in fiscal 2027.
Lebanon Finance Director presented the city's third-quarter financial update on revenue and expenditures through April, saying the city had received $34.6 million in revenue and spent about $31.1 million through that date.
The report said utility charges are performing above budget across water, wastewater and storm drainage, with water consumption up and an expected modest increase in sewer revenue after winter-averages were recalculated. Property-tax revenue is roughly $45,000 above budget overall; however, the general obligation (GO) bond fund is short…
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