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Mill Creek finance staff reports modest first‑quarter results, flags potential street‑fund shortfall
Summary
City finance staff presented the quarter‑one (Q1) 2025 financial and investment report, reporting savings on expenditures and higher investment returns but noting property‑tax timing and a projected $120,000 shortfall in the City Streets Fund tied to street‑light replacement.
Mill Creek finance staff on April 22 presented the city’s first‑quarter 2025 financial and investment report and said the city is holding its budget assumptions for now while continuing to monitor receipts.
The presentation, given by Amina (finance staff), said preliminary numbers show about $195,000 in expenditure savings and roughly $144,000 in additional investment returns compared with prior assumptions. General‑fund revenues for the quarter totaled approximately $2.2 million (about 8.9% of the budget), below the benchmark the staff uses for a three‑month period. Amina said property‑tax collections — which make up a large share of the city’s revenue — were not yet booked and will arrive in the coming month.
Why it matters: the general fund is the city’s primary operating account. Large, timing‑sensitive receipts such as property…
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