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Finance director briefs audit committee on first-quarter finances; water tank, interest income and sales tax highlighted
Summary
Jamie Jones presented Q1 (July–September) financials showing expected seasonal patterns in the aquatic center, completion of the new water tank largely funded by ARPA and reserves, and notable investment interest income boosting enterprise funds.
Jamie Jones, North Ogden finance director, presented the city—s first-quarter financial results (July through September) to the audit committee on Jan. 9.
Jones said the general fund is below the 25% benchmark for the first quarter because property-tax receipts arrive later in the year; she noted the Aquatic Center posts heavier expenses early in the fiscal year because of its season. "We are under in the general fund. A lot of that will change with the second quarter because we get most of the general fund dollars, which is property taxes, in December," Jones said.
The presentation covered enterprise fund performance. Jones said the water fund reported 29% of…
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