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City accepts first-quarter financial report; staff flags tax timing and snow‑and‑ice costs
Summary
Council accepted the first-quarter financial report. Staff told council property-tax receipts were unusually up due to a late large taxpayer payment, interest income timing and longer-term investments affected reported interest, and snow-and-ice and overtime expenses were above prior-year levels.
A finance staff member presented the city’s first-quarter financial report and highlighted several items for council attention: property-tax revenue appeared considerably higher year-over-year because one large taxpayer’s timely-postmarked payment was not received in time for last year’s settlement, producing a $687,000 increase in delinquent-collection receipts this year.
Staff said interest…
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