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Committee forwards March financial report and vouchers amid questions on sales tax, permits and vacancies
Summary
Federal Way’s committee forwarded the March monthly financial report and vouchers to the May 6 consent agenda after a lengthy review by Finance Director Jack Grooms. Members pressed staff on weaker-than-budget sales-tax and permit revenues, staffing vacancies, the Target/Trent transaction status and options including a hiring freeze.
The Federal Way Finance and Administration Committee on April 22 forwarded the city’s March monthly financial report and the month’s accounts-payable and payroll vouchers to the May 6 consent agenda after a detailed presentation by Finance Director Jack Grooms.
Grooms told the committee that national inflation has declined for two consecutive months and reviewed city revenue lines. He said sales-tax receipts were 3% below budget but 4% above the prior year, and that permit-fee revenue was $473,000 unfavorable to budget and $330,000 under prior year. “This has got a $473,000 unfavorable variance to budget so far,” Grooms said.
Grooms and committee members discussed other revenue items: real-estate-excise tax showed an uptick in March compared with prior…
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