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City finance report shows solid reserves; council debates accelerating street preservation funding
Summary
City staff presented a first‑quarter financial review showing general fund revenues and expenditures on track and most cash kept in LGIP; council members discussed using available resources to accelerate street preservation work and asked staff for a plan showing cost, phasing and fiscal impacts.
City staff presented a first‑quarter financial summary at the April 21 regular meeting and council discussed possible near‑term uses of available funds, with particular attention to street preservation.
Staff reported the city’s year‑to‑date general fund revenue at about $8.2 million against a $26.7 million annual budget and year‑to‑date general fund expenditures of about $5.5 million against a $27.2 million annual budget. Interest income across funds was reported at roughly $942,000 year to date, down from about $980,000 the prior year; staff said…
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